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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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. 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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

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​​AUD/USD comes off 7-month high while EUR/JPY and USD/JPY resume their ascents

​​AUD/USD comes off 7-month high while EUR/JPY and USD/JPY resume their ascents ahead of US June retail sales data.

USD/JPY Source: Adobe images
Forex Japanese yen USD/JPY EUR/JPY AUD/USD United States dollar
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​AUD/USD comes off 7-month high

​Last week AUD/USD rallied to $0.6798 but has been under downside pressure since then with the July low at $0.6724 being in sight.

While it holds the cross remains technically bullish, though with the 22 December high at $0.6825 representing a possible upside target.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

​EUR/JPY tries to recover

EUR/JPY has rapidly come off Thursday's ¥175.42 multi-decade high and slid to ¥171.46, a level from which it is trying to rise again. Failure there and at the 24 June high at ¥171.44 would put the ¥170.00 region on the map.

​Minor resistance can now be found at the 8 July low at ¥173.51, ahead of the ¥174.74 August 1992 peak.

EUR/JPY chart Source: TradingView.com
EUR/JPY chart Source: TradingView.com

​USD/JPY tries to recover

USD/JPY got close to its ¥161.95 early July high before rapidly dropping to this week's low at ¥157.13, made close to the 55-day simple moving average (SMA) at ¥157.53 which acted as support.

​Minor resistance at the 24 June high at ¥159.93 and the 28 June and 8 July lows at ¥160.26 are back in focus while ¥157.13 underpins.

USD/JPY chart Source: TradingView.com
USD/JPY chart Source: TradingView.com

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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 CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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