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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.

FX levels to watch – EUR/USD, GBP/USD, USD/JPY

While USD/JPY presses on towards a key trendline, EUR/USD has paused and GBP/USD is looking to recover after a hectic day yesterday.

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EUR/USD falters near $1.18

Having broken out from its descending trendline a few days ago, the price for EUR/USD has continued to gain, but moves towards $1.18 have brought out the sellers.

From here, $1.1850 is the next major level, and then $1.1996. A drop below $1.1730 would break the steep trendline support that has held since the end of June.

EUR/USD price chart

GBP/USD recovers from volatile Monday

Sterling has rebounded slightly after yesterday’s volatile session, and GBP/USD continues to hold the $1.32 area.

A sustained recovery targets the Monday high at $1.3350, and then on to $1.3470. A close below $1.32 would then suggest a move back towards $1.3040.

GBP/USD price chart

USD/JPY looks to break recent highs

USD/JPY has recovered, and is looking to challenge the ¥111.40 high from late May.

The price is also now close to challenging the downtrend line from the 2015 high, which would come into play around ¥111.60. A drop back towards ¥110.60 might see buyers emerge.

USD/JPY price chart

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