AUD/USD comes off 7-month high while EUR/JPY and USD/JPY resume their ascents
AUD/USD comes off 7-month high while EUR/JPY and USD/JPY resume their ascents ahead of US June retail sales data.
AUD/USD comes off 7-month high
Last week AUD/USD rallied to $0.6798 but has been under downside pressure since then with the July low at $0.6724 being in sight.
While it holds the cross remains technically bullish, though with the 22 December high at $0.6825 representing a possible upside target.
EUR/JPY tries to recover
EUR/JPY has rapidly come off Thursday's ¥175.42 multi-decade high and slid to ¥171.46, a level from which it is trying to rise again. Failure there and at the 24 June high at ¥171.44 would put the ¥170.00 region on the map.
Minor resistance can now be found at the 8 July low at ¥173.51, ahead of the ¥174.74 August 1992 peak.
USD/JPY tries to recover
USD/JPY got close to its ¥161.95 early July high before rapidly dropping to this week's low at ¥157.13, made close to the 55-day simple moving average (SMA) at ¥157.53 which acted as support.
Minor resistance at the 24 June high at ¥159.93 and the 28 June and 8 July lows at ¥160.26 are back in focus while ¥157.13 underpins.
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