EUR/USD and GBP/USD make new highs as USD/JPY returns to November low
The rallies in EUR/USD and GBP/USD have both taken off once again, while after weeks of consolidation USD/JPY has broken lower.
EUR/USD uptrend hits new high
The EUR/USD gains continue, topping $1.22 for the first time in two years.
Further gains continue to target $1.226 and then $1.2413, previously seen in early 2018. The upside case continues to hold sway, with sellers unlikely to see much traction to the downside unless the price drops below $1.21.
GBP/USD marches higher
After Monday’s volatility, GBP/USD has resumed its move upwards, reclaiming $1.34 and then $1.35, before marching on to its highest level since May 2018.
The bounce from the 50-day simple moving average (SMA) seen a week ago continues, and as with EUR/USD, the sellers have been shut out of the current situation.
USD/JPY heads lower again
After the consolidation of late November and early December, it looks like the USD/JPY downtrend has reasserted itself, as the price breaks below ¥103.60 and heads back to the November low.
This information has been prepared by IG, a trading name of IG US LLC. This material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. You should not treat any opinion expressed in this material as a specific inducement to make any investment or follow any strategy, but only as an expression of opinion. This material does not consider your investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. No representation or warranty is given as to the accuracy or completeness of the above information. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. Any research provided should be considered as promotional and was prepared in accordance with CFTC 1.71 and designed to promote the independence of investment research. See our Summary Conflicts Policy, available on our website.
Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.8 pips on EUR/USD
- Analyze market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on the most popular forex markets
See more forex live prices
Prices above are subject to our website terms and agreements. Prices are indicative only
