EUR/JPY, USD/JPY and AUD/USD slip amid Japan/US FX consultation
EUR/JPY, USD/JPY slip amid Japan’s Kato and US’s Bessent consultation as AUD/USD drops too.
EUR/JPY under pressure
EUR/JPY tumbles towards the December-to-January support line at ¥160.46 amid Japan’s Finance Minister Kato’s and US Treasury Secretary Bessent’s call and talk of exchange rate cooperation. The support line may hold. As long as it does, the October to January resistance line at ¥163.93 may be revisited.
Below the December to January tentative uptrend line lies the mid-January low at ¥159.70.
EUR/JPY daily chart
USD/JPY experiences slight downturn
USD/JPY still range trades above Monday's ¥153.72 low but now has a short-term bearish bias.
Support is seen at Monday's ¥153.72 low. If slipped through, the 200-day simple moving average (SMA) at ¥152.81 may be reached next. Resistance above the January downtrend line at ¥155.59 sits at the November high at ¥156.74.
USD/JPY daily chart
AUD/USD continues to slip
AUD/USD's slide through the January tentative support line at $0.6248, now because of inverse polarity a resistance line, has the mid-December low at $0.6199 in its sights.
Only if last week's high at $0.6330 were bettered, would a medium-term bullish trend reversal be in the making.
AUD/USD daily chart
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