Skip to content

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 hits 8-month high while EUR/JPY, USD/JPY stay side-lined​​​

​​​​AUD/USD hits 8-month high while EUR/JPY, USD/JPY stay side-lined​​ but continue to have a bearish bias.​

AUD Source: Adobe images

​​​AUD/USD continues its advance and trades in 8-month highs

​AUD/USD's sharp rally off its $0.6349 low nearly reached the 10 May 2023 high at $0.6819 before sliding back below its July high at $0.6798, a level reached on Friday of last week as well.

​Minor support lies at Tuesday's $0.6762 low and at the 21 August high at $0.6761. Further potential support lies sits at the $0.6698 level, made up of the 4 June high and 22 August low.

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

​EUR/JPY still side-lined

EUR/JPY continues to range trade below the 200-day simple moving average (SMA) at ¥163.99 whilst remaining above the ¥160.00 mark. Further minor support is found at the 12 August low at ¥159.83.

​Downside pressure should be maintained while the 200-day SMA caps.

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

​USD/JPY remains under pressure

USD/JPY's recent sell-off has so far taken it to Monday's low at ¥143.45 from which it is once again trying to recover towards the July-to-August downtrend line at ¥145.46.

​Support below ¥143.45 lies at the ¥141.70 early August low.

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

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.

Start trading forex today

Find opportunity on the world’s most-traded – and most-volatile – financial market

  • Trade spreads from just 0.6 points on EUR/USD
  • Analyse with clear, fast charts
  • Speculate wherever you are with our intuitive mobile apps

See an FX opportunity?

Try a risk-free trade in your demo account, and see whether you’re onto something.

  • Log in to your demo
  • Try a risk-free trade
  • See whether your hunch pays off

See an FX opportunity?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Get spreads from just 0.6 points on popular pairs
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See an FX opportunity?

Don’t miss your chance. Log in to take your position.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. 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.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

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.