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.

FX levels to watch – EUR/USD, GBP/USD, USD/JPY

Risk appetite appears to be returning, as the US gets back to work following this holiday.

Video poster image

EUR/USD looks to rally

Having broken the downtrend line yesterday, the price has moved higher for EUR/USD.

The next target would be the mid-June highs at $1.1850. A short-term sequence of higher lows from the 28 June low suggest that the buyers remain in charge, with a break below $1.1630 needed to dispel this view.

EUR/USD price chart

GBP/USD pushes higher again

Steady buying has propped up GBP/USD as well over the past week, as short-term dips from the 28 June low have found buyers.

The near-term areas of resistance to watch are $1.3312 and then $1.35. While a break back below $1.3160 would negate this more bullish view.

GBP/USD price chart

USD/JPY stuck in range

USD/JPY finds itself stuck in a tight range, between ¥110.50 and ¥110.84.

Dips over the past two sessions have found buyers, but the price has had difficulty moving on above ¥110.84, so a close above here would be decisive and open the way to ¥111.39. It looks like a move below ¥110.20 would negate this outlook.

USD/JPY price chart

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.

Find articles by writer