USD/JPY drops to 9-month low, EUR/JPY slips while EUR/USD stabilizes
USD/JPY drops to 9-month low, EUR/JPY slips on hawkish BOJ while EUR/USD stabilizes amid depreciating US dollar after US presidential debate.
USD/JPY drops to 9-month low
USD/JPY's fall through its ¥141.70 early August low has taken the cross to levels last traded in January with that month's low at ¥140.26 representing the next downside target.
Immediate resistance is seen at the 5 August low at ¥141.69.
EUR/JPY slips further still
EUR/JPY is seen heading down towards its ¥154.42 early August low. Minor resistance can now be spotted around the 9 January low at ¥157.21.
EUR/USD recovers
EUR/USD managed to level out slightly above its August 5 high at $1.1009 ahead of today's US August consumer price index (CPI) release. Minor resistance can be seen around the 22 August low at $1.1098.
A fall through $1.1009 would likely engage the 21 March high at $1.0942. For now we stick to our neutral medium-term forecast.
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