Skip to content

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/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

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

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

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Tuesday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

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.