AUD/USD remains bid as EUR/JPY, USD/JPY fall out of bed
AUD/USD remains bid as EUR/JPY, USD/JPY fall out of bed amid yen appreciation.
AUD/USD remains bid
Last week's AUD/USD chart close above the late January high at 0.6330 is medium-term bullish and targets the 0.6850 region. First this week's high at 0.6374 needs to be bettered, however.
Because of inverse polarity, the 0.6330 January peak has now become support. Further minor support may be found around the 0.6302 early January high and along the 55-day simple moving average (SMA) at 0.6267.
AUD/USD daily chart
USD/JPY drops further
Last week's USD/JPY rejection by the 55-day SMA at 154.93 and this week's fall through the September to February support line has taken the cross to our 150.00 target. Below it beckons the 148.65 December low.
Minor resistance can now be seen at the 150.93 early February low.
Only a rise above last week's 154.80 high would engage the early February peak at 155.88.
USD/JPY daily chart
EUR/JPY falls out of bed
Last week's EUR/JPY reversal from its 55-day SMA at 161.07 nears the December to February lows at 156.18 to 155.65.
Minor resistance now sits at the early February low at 157.97.
Only if last week's high at 161.19 were to be overcome, would the 164.00 region be eyed.
EUR/JPY daily chart
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