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

UK employment figures have put pressure on sterling, while the euro pushes below yesterday’s low.

EUR/USD moves lower

Selling pressure remains here for EUR/USD, with the price pushing on towards $1.23.

As yesterday, the $1.2165 level comes into play next. Any rally will target the highs of around $1.2540 from earlier in the month.

GBP/USD knocked back by employment data

Today’s unemployment reading has seen the bears take control of GBP/USD, pushing the price below yesterday’s lows.

The first downside level to watch is $1.3836, followed by $1.3764.  A reversal above $1.4150 is needed to change the bearish view.

USD/JPY pushes higher for now

Steady gains from the lows continue, although USD/JPY remains in a downtrend from the highs of the year so far.

This could move towards the ¥108 level and still be a selling opportunity. A breakout above ¥109 is needed to suggest a definitive turn higher.

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