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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD, GBP/USD and USD/JPY all move higher

In the wake of the FOMC decision we have seen gains for EUR/USD, GBP/USD and USD/JPY, as risk appetite revives.

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EUR/USD rally continues apace

EUR/USD showing a straight-line move with no sign of slowing, and is on course to test the area just below $1.22 again, as it did in January and February. From there further gains head towards $1.235.

Rising trendline support from the March low has supported the price over the past month, with no sign as yet of a drop below this. A move below $1.2085 could signal the start of at least a short-term retracement.

EUR/USD chart Source: ProRealTime
EUR/USD chart Source: ProRealTime

GBP/USD targets $1.40 again

The price of GBP/USD continues to edge back to the $1.40 area that marks the limit of its gains for March and April. This is a crucial zone that will need to be cleared decisively to open the way to $1.42.

Short-term rising support from the early April low has, like with EUR/USD prevented any significant downside, and sellers would need to see a drop below $1.3875 to indicate a new move down was at hand.

GBP/USD chart Source: ProRealTime
GBP/USD chart Source: ProRealTime

USD/JPY recovers after Wednesday losses

While USD/JPY fell back from its high in yesterday’s session, it has begun to recover overnight, targeting ¥109 once again and pointing towards further gains after the higher low of last week.

The bullish view remains in place unless we see a drop below ¥108 at the least.

USD/JPY chart Source: ProRealTime
USD/JPY chart Source: ProRealTime

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