EUR/JPY, USD/JPY remain in recovery mode while AUD/USD continues to appreciate
EUR/JPY, USD/JPY remain in recovery mode while AUD/USD continues to appreciate post US inflation print.
EUR/JPY in recovery mode
EUR/JPY is still gradually advancing towards the 200-day simple moving average (SMA) at ¥164.03. This will remain the case while Tuesday's low at ¥160.59 underpins.
USD/JPY still range trades
USD/JPY's sharp drop from its ¥161.95 early July high to its ¥141.70 early August low is being followed by a minor bounce and sideways range trading, so far below the ¥148.00 mark.
AUD/USD stays on upward trajectory
AUD/USD's recovery rally off its $0.6349 low is ongoing with the 55-day SMA at $0.6637 expected to be revisited, together with the early April and May highs at $0.6644-to-$0.6667. This short-term bullish view will remain intact while Thursday's intraday low at $0.6567 holds.
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