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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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EUR/JPY, USD/JPY rally to multi-decade highs while EUR/GBP drops​​

​​​EUR/JPY, USD/JPY rally multi-decade highs as the Bank of Japan kicks off its two-day monetary policy meeting while EUR/GBP drops.​​

JPY Source: Getty Images
Forex Japanese yen Bank of Japan USD/JPY EUR/JPY EUR/GBP
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​EUR/GBP is coming off further still

EUR/GBP has short-term topped out at £0.8644 and weighs on the £0.8586 to £0.858681 support zone. Below it lies the 17 April high at £0.8572 and then meanders the 55-day simple moving average (SMA) at £0.8553.

​Minor resistance is seen along the 200-day SMA at £0.8605.

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

​EUR/JPY eyes October 2007 high

EUR/JPY is rapidly advancing towards the October 2007 high at ¥167.74 while trading at levels last seen in 2008.

​Minor support is found at the 20 March high at ¥165.35.

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

​USD/JPY grapples with June 1990 peak

USD/JPY has overcome the ¥155.00 mark as the Bank of Japan (BoJ) meeting gets underway and has reached the June 1990 peak at ¥155.56 which it is trying to overcome. The next upside target is a 61.8% Fibonacci extension at ¥158.57.

​Upside pressure will remain in play while Friday's low at ¥153.60 underpins.

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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