Skip to content

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks involved.

AUD/USD drops as EUR/JPY, USD/JPY rejected by resistance

AUD/USD depreciates as traders buy the US dollar after the Columbus Holiday break as EUR/JPY, USD/JPY are rejected by resistance.

Yen Source: Adobe images

​​AUD/USD under pressure

AUD/USD slips towards the 22 August low at $0.6698, below which lies the September low at $0.6623.

Minor resistance can still be found at the 26 September low at $0.6819.

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

EUR/JPY rejected by resistance

EUR/JPY has for now been rejected by the ¥162.89-to-¥164.24 resistance area. Were it to be exceeded, a medium-term bullish reversal would be in the making.

Potential slips may find support between last Friday's low and the 55-day simple moving average (SMA) at ¥161.01-to-¥160.52. 

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

USD/JPY grapples with key resistance

USD/JPY is still trying to break through key resistance and briefly overcame it on Monday by rising to ¥149.98. A rise and daily chart close above this level which would likely lead to a medium-term bullish trend reversal.

Support still lies between the early September high at ¥147.21, the late September high at ¥146.49 and the 4 October low at ¥145.93.

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

This information has been prepared by IG, a trading name of IG Australia Pty Ltd. 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.

Start trading forex today

Trade the largest and most volatile financial market in the world.

  • Spreads start at just 0.6 points on EUR/USD
  • Analyse market movements with our essential selection of charts
  • Speculate from a range of platforms, including on mobile

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.