EUR/USD and GBP/USD fall, as USD/JPY eyes fresh gains

The dollar strength theme of Monday has carried over into a new session, pushing down EUR/USD and GBP/USD while lifting USD/JPY.


EUR/USD downward move continues

After the poor start to the week, the losses have continued, EUR/USD pushing on below the 100-day simple moving average (SMA) at $1.2024 and below yesterday’s low.

A fresh test of $1.194 seems very likely, as bearish pressure continues to drive the price downwards. This negative view remains in place unless we see a move back above $1.21, which could then bring $1.22 into view once again.

GBP/USD heads lower

After starting on an upward path yesterday morning GBP/USD has steadily lost ground, moving back towards the rising 50-day SMA at $1.3724.

This is still very much a pullback rather than a turnaround in the trend, although for the time being the sellers are firmly in charge.

USD/JPY keeps climbing

Further gains yesterday carried the USD/JPY price towards ¥107.00, with daily stochastics and moving average convergence/divergence (MACD) pointing towards strong bullish momentum.

This change in trend from the summer’s downward move remains strong and shows no sign of slowing. Further gains above ¥107.00 will bring ¥107.95 and ¥109.59 into view in due course.

IGA, may distribute information/research produced by its respective foreign affiliates 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.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. 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, and 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.

Please see important Research Disclaimer.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.


Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.