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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% 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.

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

While the euro tries to move above $1.24 again, USD/JPY is struggling to move on from ¥107.00.

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EUR/USD edges higher

The dip buying goes on here, as it has all week for EUR/USD, with the last two days seeing fresh momentum around $1.2340.

The next targets to watch for are $1.2411 and then $1.25. Below $1.2340, $1.23 comes into view, with further support at $1.22 and $1.2165.

EUR/USD price chart

GBP/USD remains under pressure

The busy week for UK data has halted the GBP/USD rally, at least for now, but the creation of a new high on Tuesday still suggests the broader direction of travel is higher.

Possible areas of support can all be found at $1.4145, $1.4070 and then $1.40. While $1.43 and then $1.4361 are the next targets on the upside.

GBP/USD price chart

USD/JPY struggles to rally

USD/JPY continues its attempts to break higher, but while it has managed to clear the Wednesday high around ¥107.30, the price then faltered at ¥107.50.

Further declines target ¥107.10, and then ¥106.90. The next big support level after this is ¥106.60. We need to see a move above ¥107.50 and then ¥107.80 to have a more bullish outlook here.

USD/JPY price chart

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