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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

​AUD/USD, GBP/USD confirm medium-term uptrends while USD/JPY slips

​​​AUD/USD, GBP/USD confirm medium-term uptrends as key resistance is breached while USD/JPY slips.​​

Dollar Source Getty Images

​​​AUD/USD breaks through key resistance

AUD/USD break through and daily chart close above the $0.6644 to $0.6667 key resistance zone confirms a medium-term bullish reversal with the $0.685 being back in play.

​Because of inverse polarity the $0.6667 to $0.6644 previous resistance area has become a support zone.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

​GBP/USD surges ahead

GBP/USD break through the March-to-May tentative downtrend line and daily chart close above the $1.2635 early May high confirms the medium-term bullish reversal we have alluded to over the past few weeks. The $1.29 region is thus back in sight.

​Potential slips on Thursday should find support around the early May high at $1.2635.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

​USD/JPY comes off

USD/JPY topped out at this week's ¥156.78 high with the 55-day simple moving average (SMA) at ¥152.52 and the ¥151.87 to ¥151.72 support zone being back in sight.

​Minor resistance sits at Wednesday's ¥154.70 low.

USD/JPY chart Source: TradingView.com
USD/JPY chart Source: TradingView.com

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