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EUR/GBP, EUR/JPY hold above support while USD/JPY trades sideways ahead of US NFPs

EUR/GBP, EUR/JPY hold above support while USD/JPY trades sideways ahead of widely anticipated US non-farm payrolls.

USD Source: Adobe images
Forex Shares Japanese yen USD/JPY EUR/JPY EUR/GBP
Written by: Axel Rudolph | Market Analyst, London
Publication date:

EUR/GBP bounces off support

EUR/GBP bounced off the £0.8271-to-£0.8260 support zone and may reach Tuesday's £0.8312 high. Further up meanders the 55-day simple moving average (SMA) at £0.8337. Only a rise above it would target last week's high at £0.8375 as well as the late August low at £0.8400.

A fall through £0.8260 would target the £0.8250 mid-August 2022 low.

EUR/GBP chart Source: TradingView
EUR/GBP chart Source: TradingView

EUR/JPY hovers above support

EUR/JPY's bounce off the August-to-December uptrend line at ¥156.18 took it to Thursday's ¥159.39 high. Below this level the cross short-term consolidates.

Minor resistance now comes in at the 22 November ¥159.91 low.

EUR/JPY chart Source: TradingView
EUR/JPY chart Source: TradingView

USD/JPY sideways trades

USD/JPY still tries to recover from Tuesday's ¥148.65 low but remains below the 55-day SMA at ¥150.60. Above it lies the 6 November low at ¥151.30 and the 200-day SMA at ¥151.93.

Below ¥148.65 low the 8 October low can be found at ¥147.35.

USD/JPY chart Source: TradingView
USD/JPY chart Source: TradingView

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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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