FX levels to watch – EUR/USD, GBP/USD, USD/JPY

Renewed dollar strength has seen EUR/USD and GBP/USD reverse their moves higher.

EUR/USD heads back towards recent low  

Last week’s low at $1.1510 continues to hold for now, but at present there doesn’t seem to be much buying pressure to lift EUR/USD.

Any rally that fails to break back above $1.1822 remains a selling opportunity.

GBP/USD gives back recent gains

The rally last week has faltered, with the $1.32 level now coming into play for GBP/USD.

A break below this would suggest a move towards $1.3039, the lows of September and October 2017. Any rally that moves back towards $1.3450 but fails to break this is likely to see fresh selling pressure.

USD/JPY climb continues

Having rebounded strongly in late May, USD/JPY has pushed on, with intraday dips continuing to find buyers.

A move above last week’s highs, around ¥110.84, would see ¥111.139 tested, and above here a new higher high is created. A close below ¥109.00 would be needed to dispel the current bullish view.

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