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GBP/USD keels over while EUR/JPY, USD/JPY rise

GBP/USD keels over while EUR/JPY, USD/JPY rise​ as US dollar appreciates.

Forex Source: Adobe images

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Article publication date:

​​​GBP/USD comes off again 

GBP/USD is slipping towards last week's $1.3260 low which together with the previous week's $1.3234 low should offer support. While this support zone underpins, the recent $1.3444 high and the February 2022 low at $1.3487 will remain in focus.

GBP/USD chart Source: TradingView

​EUR/JPY recovery is ongoing 

​Last week's EUR/JPY rejection by its December-to-January ¥164.54-to-¥164.90 highs, a key resistance area, has taken the cross to Tuesday's ¥161.60 low from where it is still recovering. The mid-April high at  ¥163.27 is next in line. 

​Only if the ¥164.54-to-¥164.90 region were to be exceeded, would the October high at ¥166.68 be back in sight. 

Below ¥161.60 meanders the 200-day simple moving average (SMA) at ¥161.25 and sit the ¥164.18 early and ¥163.75 late April highs which may offer support.

EUR/JPY chart Source: TradingView

​USD/JPY bounces back 

USD/JPY is seen bouncing off this week's ¥142.40 low towards the March-to-May downtrend line at ¥145.00. Further up sits the crosses' two-week high at ¥145.92. 

​A rise above ¥145.92 would push the 55-day SMA at ¥146.64 to the fore.​​

USD/JPY chart Source: TradingView

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