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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 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 ensure that you fully understand the risks involved.

​​​EUR/USD, GBP/USD near support while USD/JPY remains bid​​​

​​​EUR/USD, GBP/USD near support while USD/JPY remains bid as FOMC and MPC members speak on Monday.​​

​​​EUR/USD Source: Bloomberg

​​​EUR/USD nears minor support

EUR/USD is trading close to its late February low at $1.0797 which should offer interim support while the 200- and 55-day simple moving averages (SMA) at $1.0837 to $1.085 represent resistance.

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

​GBP/USD drops to key support

GBP/USD's bearish reversal from last week's $1.2803 post-Federal Reserve (Fed) meeting high has taken it to the 200-day (SMA) at $1.259. Below it lies key support between the December-to-February lows at $1.2519 to $1.25 which remain in focus.

​Immediate resistance is seen along the 55-day (SMA) at $1.2684.

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

​USD/JPY short-term stalls but remains bullish

USD/JPY's rapid advance has briefly taken the cross above its ¥151.73 October peak to ¥151.86 before giving back some of its recent gains towards the end of last week.

​While last Thursday's ¥150.27 low underpins, immediate upside pressure will be maintained, though. While this is the case, the ¥151.91-94 late October and November peaks will remain in sight.

​Minor support above ¥150.27 sits in the ¥150.88-83 region.

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

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