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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. 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.

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​​EUR/USD steady but USD/JPY comes under pressure​

While the euro is edging up against the dollar, the greenback is beginning to struggle against the yen.

USD/JPY Source: Adobe images
Forex Japanese yen United States dollar USD/JPY EUR/USD Currency

Written by

Chris Beauchamp

Chris Beauchamp

Chief Market Analyst

Article publication date:

​EUR/USD

​The EUR/USD price continues to retrace from the highs last week, but this gentle pullback has yet to turn into a more dramatic correction. Thus a recovery back above $1.0850 might signal that a low has formed. Further declines might target the $1.06 level, which formed resistance in November and December.

EUR/USD chart Source: IG
EUR/USD chart Source: IG

​USD/JPY

​Bears will note with some relish that the USD/JPY pair dropped yesterday and has come under further pressure today, failing to hold the highs of Monday’s session. This also marks resistance at ¥151.00, as was seen at the beginning of March. A new leg lower could target the lows of mid-month (¥146.80), and potentially further.

USD/JPY chart Source: IG
USD/JPY chart Source: IG

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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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