Skip to content

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, USD/JPY

The euro has faltered once again, while a rally in USD/JPY appears to be petering out. 

Video poster image

EUR/USD creates new lower low

Sellers came in yesterday to knock EUR/USD back from $1.2350, and the subsequent drop created a lower low at $1.2240.

Below this, $1.2165 comes into view. A move above $1.24 is still needed to break the downtrend that is still in effect.

GBP/USD stuck in place

GBP/USD has recovered from small losses in the wake of yesterday’s consumer price index (CPI) reading, but it still remains stuck below $1.4070.

A break above here targets $1.4145 and then $1.43. The pair has steadily gained ground since the $1.37 lows in March, and a move below $1.3880 is needed to suggest the sellers are back in control.

USD/JPY declines further

The bounce from the ¥105.60 level appears to be fizzling out for USD/JPY, and now further declines will test the ¥105.20-¥105.60 area, which has been significant support since mid-February.

Above ¥105.50, the recent peak at ¥107.30 comes into view. 

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer

Find out more about