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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.

AUD/USD bounces off support while EUR/JPY, USD/JPY range trade

​​​AUD/USD bounces off support while EUR/JPY, USD/JPY range trade​ with a slight bullish bias.​

AUD/USD Source: Adobe images

​​AUD/USD finds support

AUD/USD recovers from its current November low at $0.6435 and aims for Monday's high at $0.6549. Further up the September-to-November downtrend line can be seen at $0.6571. Minor support sits at Friday's $0.6472 low.

​​AUD/USD daily chart

AUD/USD chart Source: TradingView
AUD/USD chart Source: TradingView

EUR/JPY remains above support

EUR/JPY remains above Friday's ¥159.91 low and targets the 55-day simple moving average (SMA) at ¥162.31. Further up lies the ¥163.60 October peak.

EUR/JPY daily chart

EUR/JPY chart Source: TradingView
EUR/JPY chart Source: TradingView

USD/JPY range trades

USD/JPY still range trades below its late May high at ¥157.70 while staying above last week's low at ¥153.29.

Slightly below it lies minor support at the 23 October high at ¥153.19 with the 200-day SMA slithering around the ¥151.95 level. While ¥153.29 holds, last week's high at ¥155.88 remains in play.

USD/JPY daily chart

USD/JPY chart Source: TradingView
USD/JPY chart Source: TradingView

This information has been prepared by IG, a trading name of IG 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.
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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