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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

​​ ​​EUR/USD, GBP/USD rise further as USD/JPY drops amid weaker US dollar​​

​​​​EUR/USD, GBP/USD rise further as USD/JPY drops amid weaker US dollar​​ despite US President Trump exempting key technology products from newly imposed “reciprocal” tariffs.​

Forex pairs Source: Adobe images

Written by

Axel Rudolph FSTA

Axel Rudolph FSTA

Senior Technical Analyst

Article publication date:

EUR/USD trades in 3-year highs 

EUR/USD continues to advance with the February 2022 peak at $1.1495 remaining in focus. 

​Potential slips may find support in the $1.1155-to-$1.1146 zone. Further down lies last Monday's $1.0882 low which may also act as support.

EUR/USD chart Source: TradingView

​GBP/USD advances further still 

GBP/USD is on track for its fifth straight day of gains from last Monday's $1.2709 low with the early April peak at $1.3207 being eyed. 

​Potential slips may find support around the late October and early November highs at $1.3048-to-$1.3043 ahead of the $1.3015 mid-March high.

GBP/USD chart Source: TradingView

​USD/JPY slips further 

USD/JPY continues to drop towards the ¥140.00 region. 

​Minor resistance remains to be seen at last week's ¥144.56 low. 

​Only a currently unexpected rise above Wednesday's ¥148.28 high would lead to the late March low at ¥148.70 ahead of the 12 March high at ¥149.20 being targeted.​​ 

USD/JPY chart Source: TradingView