EUR/JPY resumes its ascent, EUR/GBP stalls and GBP/USD bounces off support
EUR/JPY resumes its ascent on verbal BOJ intervention, while EUR/GBP stalls and GBP/USD bounces off support.
EUR/JPY resumes its ascent
EUR/JPY has recovered from Monday's ¥163.32 low and is seen heading back up towards its ¥165.35 March high, a level last traded in August 2008 with the October 2007 record high at ¥167.74 representing the next upside target.
Below Monday's ¥163.32 low lies minor support at the ¥162.68 mid-March high.
EUR/GBP consolidates
Last week's break through and daily chart close above the £0.8573 to £0.8578 key resistance area is bullish for EUR/GBP with the 200-day simple moving average (SMA) at £0.8606 remaining in focus.
Slips below this previous resistance area, now because of inverse polarity a support zone, and Monday's £0.8565 low should find support between the 18 March high and the 55-day SMA at £0.8562 to £0.8551.
GBP/USD bounces off support
GBP/USD is seen bouncing off the 200-day SMA at $1.2589 and last week's low at $1.2576. Below this level sits key support between the December-to-February lows at $1.2519 to $1.25 which remains in sight.
Resistance is seen along the 55-day SMA at $1.2683.
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.
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
- Take your position
- 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.
