Skip to content

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

The dollar has weakened against the yen but this has been of little help for the euro and sterling, which are unable to push higher.

Video poster image

EUR/USD rebound begins to weaken

A small rebound goes on for EUR/USD, but the highs from earlier in the week at $1.1430 will likely provide some resistance.

From here, $1.15 comes into view. A move back below $1.1296 marks a further bearish development, potentially opening up a retracement towards $1.1118.

EUR/USD price chart

GBP/USD moves sideways

The bearish view remains firmly in place for GBP/USD, with rallies over the past two days petering out around $1.2750.

A move above $1.2840 is needed to suggest a near-term bounce, otherwise we look for a test of support around $1.26.

GBP/USD price chart

USD/JPY back below trendline resistance

The price for USD/JPY continues to drop back below downtrend resistance from the July high.

Support around ¥110.30 is the area to watch, as a close below this will open the way towards ¥108.00. A rally above ¥111.50 is needed to suggest a more bullish view.

USD/JPY price chart

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. 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. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by writer