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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 probes key support as EUR/JPY, USD/JPY try to level out

AUD/USD probes key support as EUR/JPY, USD/JPY try to level out as the greenback strengthens ahead of US Non-Farm Payrolls on Friday.

AUD/USD Source: Adobe images

AUD/USD hovers above support

AUD/USD still range trades above its November $0.6441 to $0.6435 lows. Were they to give way, the $0.6400 region would be in focus.

Minor resistance remains to be seen along the September to November downtrend line and the 25 November high at $0.6523-49.

AUD/USD daily trade

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

EUR/JPY tries to hold above support

EUR/JPY slid to the August to December uptrend line at ¥156.39 which offered interim support above the September low at ¥157.15. Minor resistance now sits at the ¥158.11 late September low.

EUR/JPY daily chart

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

USD/JPY tries to level out

USD/JPY tries to recover from Monday's ¥149.09 low but may soon encounter the 27 November low at ¥150.46 and the breached uptrend line at ¥151.12. Above it meanders the 200-day simple moving average (SMA) at ¥151.94.

Below the ¥149.09 low lies the ¥148.86 mid-October low.

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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