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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

EUR/GBP bounces off support while EUR/JPY, USD/JPY rallies pause

​​​EUR/GBP bounces off support after Bank of England interest rate hold while EUR/JPY, USD/JPY rallies pause.​​

JPY Source: Adobe images

​​​EUR/GBP bounces off support

[currencies:EUR/GBP] recovered from last week's year low at £0.8226 towards minor resistance at last week's £0.8327 high.

​Potential slips may find support around the 11 November £0.826 low ahead of the more important £0.8226 - £0.8223 lows.

​​​EUR/GBP chart

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

​EUR/JPY loses upside momentum

EUR/JPY hovers above its 55-day simple moving average (SMA) at ¥162.44 but still has the ¥163.60 - ¥163.89 resistance area in its sights.

​The short-term uptrend will remain intact while the 18 December low at ¥159.82 underpins.

​EUR/JPY chart

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

​USD/JPY rally pauses

USD/JPY trades above its November ¥156.74 high with the ¥157.13 mid-July low and the ¥157.71 late May high representing the next upside targets.

​Minor support below ¥156.74 can be spotted between the ¥154.69 early November high and the ¥154.48 mid-December high.

​USD/JPY chart

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

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