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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

EUR/GBP tries to recover as EUR/JPY and USD/JPY continue to rise

EUR/GBP tries to recover as EUR/JPY and USD/JPY continue to rise amid a strong greenback bid.

JPY Source: Bloomberg

EUR/GBP holds at support

EUR/GBP tries to overcome the 55-day simple moving average (SMA) at £0.8549 and reach the £0.856 to £0.857 zone.

On Monday the cross slid to £0.8527, below which lies the £0.8499 February low.

EUR/GBP chart Source: TradingView.com
EUR/GBP chart Source: TradingView.com

EUR/JPY grinds higher

EUR/JPY has Tuesday's ¥164.67 high in view above which beckons key resistance at ¥165.17 to ¥165.35, the March and current April highs.

This bullish outlook will remain valid while Friday's low at ¥162.28 underpins.

EUR/JPY chart Source: TradingView.com
EUR/JPY chart Source: TradingView.com

USD/JPY is getting ever closer to ¥155.00

USD/JPY nears the ¥155.00 mark around which the Bank of Japan may intervene.

Upside pressure will remain in play while Friday's low at ¥152.60 underpins. Were this level to give way, however, the ¥151.97-91 area might be back in play.

USD/JPY chart Source: TradingView.com
USD/JPY chart Source: TradingView.com

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