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​​EUR/USD, GBP/USD remain bullish while USD/JPY stays bearish

​​​EUR/USD, GBP/USD remain bullish while USD/JPY stays bearish amid less dovish Fed.

Forex Source: Adobe images
Forex Shares Japanese yen USD/JPY EUR/USD GBP/USD

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Article publication date:

​​​EUR/USD remains bid

EUR/USD still has the November peak at $1.0936 in its sights. Further up beckons the psychological $1.1000 region.

​Potential support can be spotted along the 200-day simple moving average (SMA) at $1.0721.

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

​GBP/USD remains bullish

GBP/USD's advance above the 200-day SMA at $1.2786, now support, still eyes the $1.3000 region.

​Minor support below the 200-day SMA can be seen at the $1.2729 mid-December high and the $1.2716 late February high.

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

​USD/JPY remains bearish

​Last week USD/JPY flirted with the ¥147.21 September high. The next downside target is the late September ¥146.49 high.

​Minor resistance lies at last Tuesday's ¥148.10 low and more significant resistance between the December to late February lows at ¥148.65-to-¥148.57.

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. 70% 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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