Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose.

Risk-on moves in FX markets lift EUR/USD, GBP/USD and USD/JPY

After recent losses, EUR/USD and GBP/USD have pushed on in early trading, recouping some lost ground, while USD/JPY is moving higher for a third day.

EUR/USD edges higher

EUR/USD has made some headway from its recent lower low, and might be in the process of building a short-term rebound.

Having been so overstretched to the downside, a short-term recovery could be quite swift, but it will need to make much more progress above $1.12 to really establish a more neutral view that could prompt a longer-term turnaround.

GBP/USD stabilises after losses

GBP/USD price has managed to edge up from $1.31, potentially putting a recovery back towards steep trendline resistance into view.

This could take it as far as $1.32. Above this, a more short-term bullish view will develop, as a counter-trend rebound gets underway.

USD/JPY pushes to one-month high

The steady gains have been seen here with USD/JPY over the week so far, and having moved above the late February resistance around ¥115.70 a more cautiously bullish view prevails.

The 2022 highs towards ¥116.30 now come into view.

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.

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