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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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. 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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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​GBP/USD, EUR/JPY and USD/JPY continue to grind higher​

​​​GBP/USD, EUR/JPY and USD/JPY continue to grind higher​ ahead of Wednesday’s FOMC minutes and US CPI data release.​

Euro Source: Bloomberg
Forex Japanese yen USD/JPY United States dollar GBP/USD EUR/JPY
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​GBP/USD remains bid

GBP/USD grapples with the 55-day simple moving average (SMA) at $1.2668 and the March-to-April downtrend line at $1.267. Above these levels beckons last week's high at $1.2684 and the 22 February high at $1.271.

​Minor support sits at Friday's $1.2574 low.

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

​EUR/JPY grinds higher

EUR/JPY is trying to overcome Thursday's ¥164.91 high , a rise above which would engage the 20 March high at ¥165.35.

​Minor support can be found at the ¥163.41 beginning of April high.

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

​USD/JPY nears its 34-year high

USD/JPY is still heading towards its 34-year high at ¥151.97, a rise above which and the ¥152.00 mark would target the ¥153.60 July 1987 peak.

​​Minor support lies in the ¥150.88-81 region.​While ¥150.27 underpins, an upside bias remains in play.

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

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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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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