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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.

​USD/JPY trades in 34-year highs while EUR/JPY rises and AUD/USD stabilizes

​​​Yen continues to depreciate despite Japan manufacturing PMI hitting an 11-month peak.​

USD/JPY Source: Getty Images

AUD/USD bounces off 5-month low

AUD/USD bounces off Friday's $0.6363 low but so far has only briefly risen above Thursday's $0.6456 high, above which sits the $0.6493-99 minor resistance area.

Support below Monday's intraday low at $0.6412 comes in around the 78.6% Fibonacci retracement of the October-to-December advance and Tuesday's low at $0.64 to $0.639. Further down sits Friday's low at $0.6363.

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

EUR/JPY pushes higher still

EUR/JPY remains on track to reach the ¥165.17 to ¥165.35 resistance area, made up of the March and current April highs.

Minor support remains to be seen at the ¥164.48 late-March high. The bullish outlook will remain in play valid while ¥163.03 underpins.

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

USD/JPY hits January 1990 levels

USD/JPY has so far risen to ¥154.85, a level last traded in January 1990, and close to the ¥155.00 mark around which the Bank of Japan (BoJ) may intervene.

Upside pressure will remain in play while Friday's low at ¥153.60 underpins. Were this level to give way, though, the 12 April low at ¥152.60 and the ¥151.97-91 area might be back in play.

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

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa 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.

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