EUR/JPY, USD/JPY take a hit while AUD/USD holds
EUR/JPY, USD/JPY take a hit amid hawkish BoJ comments while AUD/USD holds.
EUR/JPY under pressure
EUR/JPY has swiftly come off Wednesday's ¥162.89 high and dropped to ¥159.75 from where it is bouncing back. While this level underpins, a rise back towards the 55-day simple moving average (SMA) at ¥162.12 remains at hand. Only an advance above ¥162.89 would put the ¥164.00 region on the map.
A fall through at ¥159.75 would put the September low at ¥158.11 on the map. While it ¥159.75 holds on a daily chart closing basis, the medium-term uptrend remains valid.
USD/JPY comes off ¥158.00 region
USD/JPY slid from its 6-month high at ¥158.88 so far to ¥155.22. Provided this level holds, the ¥158.00 region could be revisited and eventually the ¥160.00 mark.
A fall through ¥155.22 would lead to the 55-day SMA at ¥154.59 being eyed.
AUD/USD remains in recovery mode
AUD/USD's descent to $0.6132, briefly below the October 2022 low at $0.6171, has been followed by a recovery rally which is still trying to break through the September-to-January downtrend line at $0.6235.
A fall through the $0.6132 low would have the October 2008 low at $0.6009 in its sights.
A rise above the 6 January high at $0.6302 is needed, for a potentially bullish reversal to gain traction.
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