Swift AUD/USD rally is taking a breather while EUR/JPY, USD/JPY stay side-lined
Swift AUD/USD rally is taking a breather ahead of Jackson Hole symposium while EUR/JPY, USD/JPY stay side-lined.
EUR/JPY stays side-lined
EUR/JPY continues to range trade below the 200-day simple moving average (SMA) at ¥164.02 and above the ¥160.00 level. Further minor support is seen at the 12 August low at ¥159.83. Downside pressure should be maintained while the 200-day SMA caps.
USD/JPY remains under pressure
USD/JPY's sharp drop from its ¥161.95 early July high to its ¥141.70 early August low has been followed by a bounce to last week's high at ¥149.40. From there it so far dropped to ¥144.46 with further downside looking probable.
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