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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

EUR/USD, GBP/USD and USD/JPY all made headway to the upside yesterday, with some stalling of momentum today.

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EUR/USD looking for a new move higher

Buyers will be hoping that yesterday’s bounce of EUR/USD markets the beginning of a move towards $1.18 and higher, replicating the August rally.

Sellers meanwhile will look for a renewed drop that can push the price back below $1.17 and reinforce the bearish view.

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

GBP/USD pauses after bounce

Yesterday’s GBP/USD action seems to have put the pair back on an upward footing, and as a result more gains in the direction of $1.38 seem likely.

Sellers have a big job reversing this view, with a decline back below $1.365 needed to suggest another test of the $1.36 support area.

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

USD/JPY heads higher

USD/JPY has moved back to the ¥110.50 zone, and now we wait to see if it can stage a breakout after stalling around this level several times since July.

Further gains target ¥111.50, the late June peak.

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

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