AUD/USD drops as EUR/JPY, USD/JPY rejected by resistance
AUD/USD depreciates as traders buy the US dollar after the Columbus Holiday break as EUR/JPY, USD/JPY are rejected by resistance.
AUD/USD under pressure
AUD/USD slips towards the 22 August low at $0.6698, below which lies the September low at $0.6623.
Minor resistance can still be found at the 26 September low at $0.6819.
EUR/JPY rejected by resistance
EUR/JPY has for now been rejected by the ¥162.89-to-¥164.24 resistance area. Were it to be exceeded, a medium-term bullish reversal would be in the making.
Potential slips may find support between last Friday's low and the 55-day simple moving average (SMA) at ¥161.01-to-¥160.52.
USD/JPY grapples with key resistance
USD/JPY is still trying to break through key resistance and briefly overcame it on Monday by rising to ¥149.98. A rise and daily chart close above this level which would likely lead to a medium-term bullish trend reversal.
Support still lies between the early September high at ¥147.21, the late September high at ¥146.49 and the 4 October low at ¥145.93.
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