EUR/GBP holds above support while EUR/JPY, USD/JPY recover from Tuesday’s lows
EUR/GBP holds above support while EUR/JPY, USD/JPY recover from Tuesday’s lows ahead of BOC and ECB rate decisions.
EUR/GBP still hovers above support
EUR/GBP remains above its major £0.8503-to-£0.8484 support zone and has last week's high at £0.8540 in view. If overcome, the 55-day simple moving average (SMA) at £0.8558 would be targeted.
Were a daily chart close below £0.8484 to be made, though, the July and August 2022 lows at £0.8409-04 would be eyed instead.
EUR/JPY regains losses
EUR/JPY's swift sell-off seems to have ended at Monday's ¥168.03 low with further upside back in store, targeting the ¥170.00 region and then the ¥170.79 to ¥170.89 zone.
Minor support sits between Monday's ¥168.03 low and the mid-May low at ¥167.34.
USD/JPY in recovery mode
USD/JPY took a hit and slid to $154.55 on Monday but is trying to bounce off that low towards the 30 May low at ¥156.38. Further up beckons the mid-May high at ¥156.78.
Support lies between Monday's low at ¥154.55, the 55-day SMA at ¥154.45 and the March-to-June uptrend line at ¥153.98.
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.
