USD/JPY trades in 34-year highs while EUR/JPY rises and AUD/USD stabilizes
Yen continues to depreciate despite Japan manufacturing PMI hitting an 11-month peak.
AUD/USD bounces off 5-month low
AUD/USD bounces off Friday's $0.6363 low but so far has only briefly risen above Thursday's $0.6456 high, above which sits the $0.6493-99 minor resistance area.
Support below Monday's intraday low at $0.6412 comes in around the 78.6% Fibonacci retracement of the October-to-December advance and Tuesday's low at $0.64 to $0.639. Further down sits Friday's low at $0.6363.
EUR/JPY pushes higher still
EUR/JPY remains on track to reach the ¥165.17 to ¥165.35 resistance area, made up of the March and current April highs.
Minor support remains to be seen at the ¥164.48 late-March high. The bullish outlook will remain in play valid while ¥163.03 underpins.
USD/JPY hits January 1990 levels
USD/JPY has so far risen to ¥154.85, a level last traded in January 1990, and close to the ¥155.00 mark around which the Bank of Japan (BoJ) may intervene.
Upside pressure will remain in play while Friday's low at ¥153.60 underpins. Were this level to give way, though, the 12 April low at ¥152.60 and the ¥151.97-91 area might be back in play.
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