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

FX markets have seen some US dollar weakness, providing breathing room for sterling and the euro.

Source: Bloomberg

EUR/USD moves above trendline resistance

Gains for EUR/USD have stalled around the $1.1680 mark, but the price has managed to push above downtrend resistance from the April highs.

From here $1.1720 comes into play, and then on to $1.1850. A move back below trendline resistance would bring the pair back towards the $1.1550 zone of support that has held since the end of May.

GBP/USD mixed as PMI figures arrive

The price for GBP/USD has moved towards possible trendline resistance at $1.3230, and a turn lower from here would bring the $1.3040 level into play once more.

Above here, $1.33 and then $1.3470 are the areas to watch for potential resistance.

USD/JPY stalled at resistance

Yet again another attempt to move above ¥110.84 has failed for USD/JPY.

However, with a possible higher low being created overnight, the price may yet mount another attempt to clear this resistance level and move on to ¥111.40. Below ¥110.10, the price will head back towards possible support at ¥109.50.

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