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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Swift AUD/USD rally is taking a breather while EUR/JPY, USD/JPY stay side-lined​​​

Swift AUD/USD rally is taking a breather ahead of Jackson Hole symposium while EUR/JPY, USD/JPY stay side-lined.

USD Source: Adobe images

​​​AUD/USD rally is taking a breather

AUD/USD's sharp rally off its $0.6349 low is still gunning for its July high at $0.6798. Minor support is now seen between the May peak at $0.6714 and the 12 June high at $0.6704.

AUD/USD chart Source: TradingView.com
AUD/USD chart Source: TradingView.com

​EUR/JPY stays side-lined

EUR/JPY continues to range trade below the 200-day simple moving average (SMA) at ¥164.02 and above the ¥160.00 level. Further minor support is seen at the 12 August low at ¥159.83. ​Downside pressure should be maintained while the 200-day SMA caps.

EUR/JPY chart Source: TradingView.com
EUR/JPY chart Source: TradingView.com

​USD/JPY remains under pressure ​

USD/JPY's sharp drop from its ¥161.95 early July high to its ¥141.70 early August low has been followed by a bounce to last week's high at ¥149.40. From there it so far dropped to ¥144.46 with further downside looking probable.

USD.JPY chart Source: TradingView.com
USD.JPY chart Source: TradingView.com

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