AUD/USD loses upside momentum while EUR/JPY, USD/JPY hover above support
AUD/USD loses upside momentum while EUR/JPY, USD/JPY hover above support as currency pairs stabilise.
AUD/USD loses upside momentum
Following AUD/USD's retracement from Friday's $0.6408 three-month high the cross seems to have resumed its advance towards the 12 December high at $0.6493. This should remain the case while last week's low at $0.6328 holds.
EUR/JPY hovers above support
EUR/JPY decline from its 55-day simple moving average (SMA) at ¥160.93 has taken it all the way to Friday's ¥155.82 low, made between the December-to-February lows at ¥156.18-to-¥155.65.
The early February low at ¥157.97 may act as minor resistance, together with the ¥159.70 mid-January low while ¥155.82 underpins.
USD/JPY holds at support
USD/JPY fall from the 55-day SMA at ¥154.87 has so far taken the cross to ¥148.85, close to the ¥148.65 December low.
Minor resistance remains to be seen at the ¥150.93 early February low.
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