FX levels to watch: EUR/USD, GBP/USD and USD/JPY

The euro has begun to lose ground again, but USD/JPY continues to climb.

Bears take control in EUR/USD

The rally here looks to have run its course, as the EUR/USD price drops back from $1.14, establishing a lower high at $1.142.

Further declines target support around $1.125, with $1.122 and $1.112 below this. A rally above $1.144 is needed to reverse the broadly bearish impression.

EUR/USD chart

EUR/USD chart

GBP/USD still in bullish form

Having clocked up a higher high last week, the GBP/USD price has fallen back, although it has gapped higher this morning.

Fresh gains target $1.335, continuing the rally. Fresh declines below $1.316 would head towards $1.305.

GBP/USD chart

GBP/USD chart

USD/JPY continues to climb

USD/JPY punched through the 200-day simple moving average (SMA) of ¥111.31 last week, and has pushed on since then.

The next targets to watch on the upside are ¥112.23 and ¥113.50. Pullbacks towards ¥111.20 could form fresh buying opportunities.

USD/JPY chart

USD/JPY chart


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
-
-
-
-
China 300
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Monday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.