AUD/USD advance pauses while EUR/JPY, USD/JPY decline
AUD/USD advance pauses while EUR/JPY, USD/JPY decline amid a strong Yen, as expectations grow that the Bank of Japan will continue to raise rates this year.
AUD/USD advance pauses
AUD/USD's recovery off Tuesday's $0.6187 low has taken it to above the 6 January high at $0.6302, to $0.6363 on Thursday, before keeling over.
Minor support around the $0.6302 early January high may hold. If not, the 55-day simple moving average (SMA) at $0.6260 may do so.
Only a rise above this week's high at $0.6363 may put the February high at $0.6408 back on the cards.
EUR/JPY tops out
EUR/JPY's advance faltered around the ¥161.19 mid February high by reaching ¥161.27 on Thursday before keeling over. While these levels cap, another down move may ensue with the 7-month late February ¥154.80 low being back in play.
Were the ¥161.27 high to be exceeded, the ¥163.00 region would likely be in focus.
USD/JPY slips further
USD/JPY has resumed its descent towards the ¥147.21 September high. The next downside target is the late September ¥146.49 high.
Minor resistance lies at Tuesday's ¥148.10 low and more significant resistance between the December to late February lows at ¥148.65-to-¥148.57.
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