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

The euro remains stalled below a key level, while USD/JPY has paused after recent strong gains.

EUR/USD stuck below $1.17

The push higher has stalled for EUR/USD, with moves above $1.17 failing to hold their ground.

If this continues then the likelihood of a drop back towards $1.1574 and then $1.15 increases. The next big level to watch is $1.1444, should the pair break $1.15.

GBP/USD looks to maintain upward move

GBP/USD was knocked back from the highs yesterday, having attempted to move above $1.34.

A small rising trendline from last week’s lows has yet to be breached to the downside, so a continued move higher will target $1.34 in the near term. Below $1.3280, the lows around $1.32 come into play.

USD/JPY pauses after surge

USD/JPY has bounced strongly over the past week, so a degree of caution might now be seen.

If the higher low from last week holds, then the price will target the 200-day simple moving average (SMA) at ¥110.19, and then on to ¥111.40. Pullbacks towards ¥109.00 may find buyers, while a move below ¥108.00 is needed to cast a more bearish view over the pair.

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