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

Risk appetite appears to be returning, as the US gets back to work following this holiday.

Video poster image

EUR/USD looks to rally

Having broken the downtrend line yesterday, the price has moved higher for EUR/USD.

The next target would be the mid-June highs at $1.1850. A short-term sequence of higher lows from the 28 June low suggest that the buyers remain in charge, with a break below $1.1630 needed to dispel this view.

GBP/USD pushes higher again

Steady buying has propped up GBP/USD as well over the past week, as short-term dips from the 28 June low have found buyers.

The near-term areas of resistance to watch are $1.3312 and then $1.35. While a break back below $1.3160 would negate this more bullish view.

USD/JPY stuck in range

USD/JPY finds itself stuck in a tight range, between ¥110.50 and ¥110.84.

Dips over the past two sessions have found buyers, but the price has had difficulty moving on above ¥110.84, so a close above here would be decisive and open the way to ¥111.39. It looks like a move below ¥110.20 would negate this outlook.

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