EUR/USD and GBP/USD head lower as USD/JPY edges up

The euro and sterling are faltering against the dollar, while against the yen the greenback is making gains.

EUR/USD stalls at $1.19

EUR/USD's bounce from the lows of August have stalled at $1.19, with Friday’s rally to this level encountering pushback.

The drop over the past 24 hours is only modest, and indeed stochastics and the moving average convergence/divergence (MACD) have yet to roll over, but further declines towards $1.18 will reinforce the bearish view. Bulls will want to see a recovery above $1.188 to allay concerns that a turn lower is beginning.

GBP/USD turns lower

Here too with GBP/USD, it looks like a lower high could be in play, as the price reverses towards $1.38 after gaining since late August

Confirmation will come with a move below $1.375, while buyers will want to see $1.385 recovered to put the price back on an upward footing.

USD/JPY makes gains

After struggling to make headway last week, USD/JPY has continued to hold ¥109.50, holding trendline support from the August low, and pushing towards ¥110.00, the area where gains have stalled of late.

Continued adherence to trendline support suggests that the buyers remain in charge, a scenario which remains the case unless we see a drop below ¥109.50.

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.