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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 higher while USD/JPY moves into reverse

The euro has rallied sharply against the dollar, while USD/JPY remains stuck below key resistance.

Yen Source: Bloomberg
Forex Japanese yen USD/JPY EUR/USD Euro United States dollar
Written by: Chris Beauchamp | Chief Market Analyst, London
Publication date:

EUR/USD continues its surge

EUR/USD has recovered well in the past week, having found support at $1.106 and broken out of the bullish wedge.

A close above $1.12 would be a fresh bullish sign, and with higher lows in place since the end of September, the outlook seems more positive.

EUR/USD Source: ProRealTime
EUR/USD Source: ProRealTime

USD/JPY retreats from resistance

Yet again for USD/JPY a move to ¥109.50 has run into resistance.

Further declines head toward the 50-day simple moving average (SMA) at ¥108.95, which would mark a fresh higher low. A break below ¥108.80 would be a negative development.

USD/JPY chart Source: ProRealTime
USD/JPY chart Source: ProRealTime

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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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