EUR/USD higher while USD/JPY moves into reverse
The euro has rallied sharply against the dollar, while USD/JPY remains stuck below key resistance.
EUR/USD continues its surge
EUR/USD has recovered well in the past week, having found support at $1.106 and broken out of the bullish wedge.
A close above $1.12 would be a fresh bullish sign, and with higher lows in place since the end of September, the outlook seems more positive.
USD/JPY retreats from resistance
Yet again for USD/JPY a move to ¥109.50 has run into resistance.
Further declines head toward the 50-day simple moving average (SMA) at ¥108.95, which would mark a fresh higher low. A break below ¥108.80 would be a negative development.
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