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

The dollar has weakened against the yen but this has been of little help for the euro and sterling, which are unable to push higher.

EUR/USD rebound begins to weaken

A small rebound goes on for EUR/USD, but the highs from earlier in the week at $1.1430 will likely provide some resistance.

From here, $1.15 comes into view. A move back below $1.1296 marks a further bearish development, potentially opening up a retracement towards $1.1118.

GBP/USD moves sideways

The bearish view remains firmly in place for GBP/USD, with rallies over the past two days petering out around $1.2750.

A move above $1.2840 is needed to suggest a near-term bounce, otherwise we look for a test of support around $1.26.

USD/JPY back below trendline resistance

The price for USD/JPY continues to drop back below downtrend resistance from the July high.

Support around ¥110.30 is the area to watch, as a close below this will open the way towards ¥108.00. A rally above ¥111.50 is needed to suggest a more bullish view.

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