Skip to content

We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 71% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 71% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

​​EUR/USD steady but USD/JPY comes under pressure​

While the euro is edging up against the dollar, the greenback is beginning to struggle against the yen.

USD/JPY Source: Adobe images

​EUR/USD

​The EUR/USD price continues to retrace from the highs last week, but this gentle pullback has yet to turn into a more dramatic correction. Thus a recovery back above $1.0850 might signal that a low has formed. Further declines might target the $1.06 level, which formed resistance in November and December.

EUR/USD chart Source: IG
EUR/USD chart Source: IG

​USD/JPY

​Bears will note with some relish that the USD/JPY pair dropped yesterday and has come under further pressure today, failing to hold the highs of Monday’s session. This also marks resistance at ¥151.00, as was seen at the beginning of March. A new leg lower could target the lows of mid-month (¥146.80), and potentially further.

USD/JPY chart Source: IG
USD/JPY chart Source: IG

This information has been prepared by IG, a trading name of IG Markets 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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.