EUR/JPY, USD/JPY and AUD/USD slip amid Japan/US FX consultation
EUR/JPY, USD/JPY slip amid Japan’s Kato and US’s Bessent consultation as AUD/USD drops too.
EUR/JPY is under pressure
EUR/JPY tumbles towards the December-to-January support line at ¥160.46 amid Japan’s Finance Minister Kato’s and US Treasury Secretary Bessent’s call and talk of exchange rate co-operation. The support line may hold. As long as it does, the October-to-January resistance line at ¥163.93 may be revisited.
Below the December-to-January tentative uptrend line lies the mid-January low at ¥159.70.
USD/JPY drops
USD/JPY still range trades above Monday's ¥153.72 low but now has a short-term bearish bias.
Support is seen at Monday's ¥153.72 low. If slipped through, the 200-day simple moving average (SMA) at ¥152.81 may be reached next.
Resistance above the January downtrend line at ¥155.59 sits at the November high at ¥156.74.
AUD/USD slips further still
AUD/USD's slide through the January tentative support line at $0.6248, now because of inverse polarity a resistance line, has the mid-December low at $0.6199 in its sights.
Only if last week's high at $0.6330 were bettered, would a medium-term bullish trend reversal be in the making.
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