Yen weakness carries on, EUR/JPY and USD/JPY rise, also AUD/USD
The US dollar stabilized as US yields hit a new three-month high but Yen weakness carries on with EUR/JPY and USD/JPY rising, also AUD/USD.
EUR/JPY continues its gradual ascent
EUR/JPY is still heading for the ¥163.72 late November high and is being supported by its accelerated uptrend line at ¥162.56. Below it lies minor support at the ¥161.86 January high.
Upside pressure should remain in play while the 13 February high at ¥161.63 and, more importantly, last Thursday's low at ¥160.92, underpin.
USD/JPY stays bullish while above ¥149.54
USD/JPY is trading back above the minor psychological ¥150.00 mark and nears its four-month high at ¥150.88. Above it beckon the October-to-November record highs at ¥150.91-94.
Only if last Thursday's ¥149.54 low were to give way, would the ¥148.89-80 support zone be back in sight.
AUD/USD remains bullish
AUD/USD is still trying to overcome the 200-day simple moving average (SMA) at $0.6562 and reach the $0.661 to $0.6633 area which consists of the late January and early February highs and the 55-day SMA.
Minor support is found in the $0.6543 to $0.6522 zone.
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