EUR/USD and GBP/USD move up as USD/JPY holds firm
After some weakness yesterday EUR/USD and GBP/USD are on the up, as USD/JPY continues to consolidate after recent volatility.
EUR/USD shrugs off recent bearishness
EUR/USD recovered from what seemed like a possible turn lower yesterday, clinging on around $1.217.
It has now begun to push back towards $1.22, recovering from its latest dip. A close above $1.22 and a move towards $1.225 puts the buyers firmly back in charge. Sellers will want to see a reversal below $1.216 that then moves on below $1.21.
GBP/USD edging higher again
With GBP/USD the recent weakness appears to be resolving into a move higher, as the pair heads back to $1.22.
This cancels out any bearish view for the time being and points towards a renewed move to $1.424, assuming the price can clear the area just below $1.42 that has marked the limit of gains so far this month.
USD/JPY holds its ground for now
While the USD/JPY price bounced from the lows of Monday, it has struggled around ¥109.50.
However, given that the sell-off from last week’s highs has been stemmed for now, then there may yet be enough bullish momentum to push the price back above ¥109.60 and onwards towards ¥110.00 A drop below ¥109.20 negates this view.
The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.
Start trading forex today
Find opportunity on the world’s most-traded – and most-volatile – financial market
- Trade spreads from just 0.6 points on EUR/USD
- Analyse with clear, fast charts
- Speculate wherever you are with our intuitive mobile apps
See an FX opportunity?
Try a risk-free trade in your demo account, and see whether you’re onto something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See an FX opportunity?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from just 0.6 points on popular pairs
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See an FX opportunity?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
