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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

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

US dollar weakness is in play yet again, with EUR/USD and GBP/USD hitting multiyear highs, while USD/JPY falls into a four-month low.

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EUR/USD pushes further into three-year high

EUR/USD has managed to break through key resistance levels of late, with the price hitting a new three-year high.

Given the strength of the recent move higher, there is a chance of a retracement before long. However, with a clear uptrend in place, the bullish view remains in play, unless the price falls back below $1.2111.

GBP/USD hits new 18-month high

GBP/USD has continued to move higher following the recent break through the crucial $1.3659 resistance level. That formed a new 18-month high for the pair, with very little in the way of resistance up ahead.

With that in mind, further upside seems likely from here, with any short-term retracement likely to be a pullback, rather than a reversal. Only a break back below $1.3537 would negate this bullish outlook.

USD/JPY heads lower once more

USD/JPY is turning lower yet again this morning, with the dollar sell-off picking up where it left off last week. With the price breaking below ¥110.84, we are now seeing the pair push lower into a region with very few notable support levels.

Keep an eye out for ¥110.89 and ¥111.69 as near-term resistance levels. As long as the price remains below ¥111.69, the bearish view remains, with the pair looking set to continue this significant recent downtrend.

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