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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

AUD/USD, EUR/JPY and USD/JPY continue to look bid

​​​​AUD/USD continues to advance as Australia business mood rises to 17-month peak, while EUR/JPY and USD/JPY remain bid.

USD/JPY Source: Getty Images

​​​AUD/USD trades near 7-month high

​​AUD/USD is approaching the $0.6781 late December low with the previous major $0.6694-to-$0.6714 resistance area now, because of inverse polarity, acting as a support zone. Further minor support sits in the $0.6704 to $0.6698 area.

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

​EUR/JPY side-lined below multi-decade highs

EUR/JPY remains range bound in low volatility trading below its ¥174.74 August 1992 peak.

​​Minor support sits at the 8 July ¥173.51 low with further potential support lying at the 24 June high at ¥171.44 and in the ¥170.29-to-¥170.14 region.

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

​USD/JPY is trying to level out

USD/JPY is trying to stabilise and is seen heading back up to ¥161.95, a level last traded in December 1986, while en route to the ¥165.00 November 1986 high.

​Below Monday's low at ¥160.26 lies the 24 June high at ¥159.93.

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

The information 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 Bank S.A. 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 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. See full non-independent research disclaimer.

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