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EUR/JPY, USD/JPY slip amid speculation BoJ may raise rates while AUD/USD bounces off support​

​​​EUR/JPY, USD/JPY slip amid speculation BoJ may raise rates next month while AUD/USD bounces off support.​​

Forex Source: Adobe images
Forex Shares Japanese yen USD/JPY EUR/JPY AUD/USD
Written by: Axel Rudolph | Market Analyst, London
Publication date:

​​​EUR/JPY slips further still

EUR/JPY's fall through Friday's ¥159.91 low made us neutralise our medium-term outlook with the late September low at ¥158.11 representing a possible downside target.

​Resistance can now be spotted between the 19 November low and the 55-day simple moving average (SMA) at ¥161.49-to-¥162.35. Further up lies the ¥163.60 October peak.

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

​USD/JPY probes support

USD/JPY weighs on the 200-day SMA at ¥151.95 below which lies the 6 November low at ¥151.30. This level needs to hold for the medium-term uptrend to stay intact.

​Minor resistance can now be made out around the 19 November low at ¥153.29.

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

​AUD/USD bounces off support

AUD/USD revisited but then bounced off its November low at $0.6435 and once again aims for Monday's high at $0.6549. Further up the September-to-November downtrend line can be seen at $0.6571.

​Minor support sits at Friday's $0.6472 low.

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

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