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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. 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 financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

​​​EUR/USD, GBP/USD slip while USD/JPY regains lost ground post Israel attack on Iran

EUR/USD, GBP/USD slip while USD/JPY regains lost ground as safe haven flows lead to further US dollar strength

USD Source: Bloomberg

​​​EUR/USD slips again

​Following its past couple of days' bounce, EUR/USD is heading back down again amid escalation in the Middle East. The cross eyes Tuesday's low at $1.0601 and the 78.6% Fibonacci retracement of the October-to-December advance at $1.0596. Below this level the late-October lows at $1.0522 to $1.0517 as well as the $1.0449 October low remain in sight.

Resistance sits at Thursday's $1.069 high, made slightly below the key $1.0695 to $1.0725 resistance zone.

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

​GBP/USD drops further

GBP/USD's bounce towards the $1.25 mid-December low was short-lived with the cross falling to new five-months lows as Israel fires missiles at Iran and the US dollar gains on flight to safety flows.

​Support sits at the $1.2374 mid-November low ahead of the 61.8% Fibonacci retracement of the October-to-March rise at $1.2365.

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

​USD/JPY falls but then recovers

USD/JPY short-term slid to ¥153.60 before resuming its ascent towards the ¥155.00 mark around which the Bank of Japan (BoJ) may intervene.

​Upside pressure will remain in play while last Friday's low at ¥152.60 holds. Were this level to give way, though, the the ¥151.97-91 area might be back in play.

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

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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