EUR/USD holds firm as GBP/USD drops back, while USD/JPY rebounds
The euro is holding up against the dollar, while sterling is coming under pressure. USD/JPY has staged a rebound from ¥147.
EUR/USD decline slows
The EUR/USD pair has steadily moved lower over the past three sessions, though each day has seen buying at the lows.
In the short term, further declines could head towards rising trendline support from the February low. A fresh push above $1.095 would mark a potential break to the upside, and on to $1.10.
GBP/USD drops back from recent high
The GBP/USD pair weakened after the US consumer price index (CPI) print on Tuesday, though buyers emerged to defend the lows during the session.
A move back above $1.285 would suggest further upside is possible, targeting the highs of $1.30 last seen at the end of July last year. In the short-term, rising trendline support from the January low continues to act to prevent further downside.
USD/JPY pullback halts at ¥147
Tuesday saw the USD/JPY price recover above ¥147, with the recent pullback stalled for now above the 200-day single moving average (SMA).
A fresh move higher back above the 50-day SMA would then clear the way for gains towards the ¥151 level. A close below ¥146 negates this view.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
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
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.