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

Renewed dollar strength has seen EUR/USD and GBP/USD reverse their moves higher.

EUR/USD heads back towards recent low  

Last week’s low at $1.1510 continues to hold for now, but at present there doesn’t seem to be much buying pressure to lift EUR/USD.

Any rally that fails to break back above $1.1822 remains a selling opportunity.

GBP/USD gives back recent gains

The rally last week has faltered, with the $1.32 level now coming into play for GBP/USD.

A break below this would suggest a move towards $1.3039, the lows of September and October 2017. Any rally that moves back towards $1.3450 but fails to break this is likely to see fresh selling pressure.

USD/JPY climb continues

Having rebounded strongly in late May, USD/JPY has pushed on, with intraday dips continuing to find buyers.

A move above last week’s highs, around ¥110.84, would see ¥111.139 tested, and above here a new higher high is created. A close below ¥109.00 would be needed to dispel the current bullish 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 IGA 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.