EUR/JPY, USD/JPY and AUD/USD hold their ground
EUR/JPY, USD/JPY and AUD/USD hold their ground amid 25% US tariffs on foreign steel and aluminium.
EUR/JPY holds at support level
EUR/JPY dropped to levels last seen in September 2024, reaching ¥155.65 on Monday before recovering. Along with the September low at ¥155.15, this level is expected to provide support, with a bounce anticipated soon.
Minor resistance can be found at the 3 February low at ¥159.97, ahead of the early January low at ¥160.90.
EUR/JPY daily chart
USD/JPY side-lined
The USD/JPY continues to trade at two-month lows below the 200-day simple moving average (SMA) at ¥152.71, which should now act as minor resistance. Further resistance lies at the late January low of ¥153.72.
A fall through last week's low at ¥150.94 would likely target the psychological ¥150.00 mark, as well as the August peak at ¥149.40.
USD/JPY daily chart
AUD/USD holds its ground
On Monday, the AUD/USD briefly slipped but then recovered above its breached September to February tentative downtrend line at $0.6242. This is encouraging for the bulls, with last week's high at $0.6301 remaining in focus. Further resistance lies at the January peak of $0.6330.
Support is located between Monday's intraday low and the 55-day SMA at $0.6235. Further minor support can be seen at the 19 December low of $0.6200.
AUD/USD daily chart
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