FX levels to watch – EUR/USD, USD/JPY

Dollar weakness has helped the euro pushing higher, but USD/JPY is trying to recover from early losses.

Euro notes

EUR/USD pushes on for a second day

EUR/USD has continued to maintain its upward movement, with the $1.1961 level in sight next. Above here, the year’s high at $1.2092 is the next target to watch for.

A failure to move higher would suggest a retest of the $1.1850 area. For the moment, the overall outlook remains bullish. 

USD/JPY aims to maintain uptrend

The dollar’s weakness over the past two weeks puts the uptrend from the November lows in jeopardy. However, if USD/JPY can avoid moving below ¥112 then a lower low will have been averted.

A turn higher will head to ¥113.09 and then ¥113.33. 

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