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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/USD, EUR/JPY and USD/JPY resume their recent ascents post FOMC

​​EUR/USD, EUR/JPY and USD/JPY recover after less hawkish Jerome Powell speech.

Euro Source: Getty Images
Forex Japanese yen United States dollar USD/JPY EUR/JPY Euro
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​EUR/USD resumes its ascent

​​As long as EUR/USD remains above Wednesday's $1.065 low on a daily chart closing basis, further upside is likely to be seen with last week's high at $1.0753 representing the next upside target. ​ ​

As long as $1.0753 isn't overcome, there remains the risk of another down leg being made, though, but this we see as less likely than upside pressure in the short-term.

AUD/USD chart Source: TradingView.com

​EUR/JPY sees buying pressure

​EUR/JPY is heading back up towards Monday's ¥171.58 high.

​Minor support below Thursday's ¥165.20 low lies in the ¥164.06 to ¥163.72 region.

EUR/JPY chart Source: TradingView.com

​USD/JPY still targets the ¥160.21 high

USD/JPY is heading back up towards its April 1990 high at ¥160.16 and Monday's peak at ¥160.21, having on Wednesday slid to ¥153.01. While above this level further upside is expected to be seen.

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. 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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