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EUR/GBP tries to recover as EUR/JPY and USD/JPY continue to rise

EUR/GBP tries to recover as EUR/JPY and USD/JPY continue to rise amid a strong greenback bid.

JPY Source: Bloomberg
City Motion Forex Japanese yen Euro USD/JPY EUR/JPY
Written by: Axel Rudolph | Market Analyst, London
Publication date:

EUR/GBP holds at support

EUR/GBP tries to overcome the 55-day simple moving average (SMA) at £0.8549 and reach the £0.856 to £0.857 zone.

On Monday the cross slid to £0.8527, below which lies the £0.8499 February low.

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

EUR/JPY grinds higher

EUR/JPY has Tuesday's ¥164.67 high in view above which beckons key resistance at ¥165.17 to ¥165.35, the March and current April highs.

This bullish outlook will remain valid while Friday's low at ¥162.28 underpins.

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

USD/JPY is getting ever closer to ¥155.00

USD/JPY nears the ¥155.00 mark around which the Bank of Japan may intervene.

Upside pressure will remain in play while Friday's low at ¥152.60 underpins. Were this level to give way, however, the ¥151.97-91 area might be back in play.

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

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