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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 71% 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, GBP/USD and USD/JPY await US Non-Farm Payrolls report

EUR/USD, GBP/USD and USD/JPY await US May Non-Farm Payrolls report and average hourly earnings.

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

EUR/USD tests resistance

EUR/USD continues to grind higher, targeting last week's high at $1.0916. Further up beckon the 24 January high at $1.0932 and the 21 March high at $1.0942, ahead of the March high at $1.0981.

Immediate support lies at Wednesday's $1.0855 low and at the $1.0836 mid-May low.

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

GBP/USD trades close to its 2 1/2 month high

GBP/USD trades within a whisker of its 2 1/2 month high at $1.2818 which was made close to the $1.2823 mid-March high, both of which are within reach. Further up beckons the March peak at $1.2894.

Since negative divergence can be spotted on the daily Relative Strength Index (RSI), a fall through Tuesday's low at $1.2743 may still have short-term negative implications and put the $1.2694 to $1.2676 region on the cards.

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

USD/JPY range trades

USD/JPY range trades above Tuesday's ¥154.55 low and below the last few days' ¥156.48 high. Further up beckons the mid-May high at ¥156.78.

Support below the accelerated uptrend line at ¥155 lies between the 55-day simple moving average (SMA) at ¥154.61, Tuesday's low at ¥154.55, and the March-to-June uptrend line at ¥154.20.

USD/JPY chart Source: TradingView.com
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. 71% 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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