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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.

Yen weakness continues with EUR/JPY, USD/JPY grinding higher while AUD/USD stalls

​​​​Yen weakness continues with EUR/JPY, USD/JPY nearing their early June highs while AUD/USD stalls within a resistance zone.

JPY Source: Getty Images

​​​EUR/JPY grinds higher

EUR/JPY grinds higher towards its 6 to mid-June highs at ¥170.13-to-¥170.29. Further up lies the 3 June high at ¥170.89.

​Minor support can be spotted at the ¥169.07 late-May low.

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

​USD/JPY nears its six-week high

​Last week USD/JPY rose to a six-week high at ¥158.25 which is about to be reached. Above this level sits the April peak at ¥160.21.

​Minor support can be seen at the ¥157.70 late-May high and Tuesday's ¥157.40 high.

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

​AUD/USD loses upside momentum

AUD/USD nears major resistance at $0.6698-to-$0.6714 which is expected to again cap.

Only failure at $0.6577 would engage the 8 May low at $0.6558.

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

This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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