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EUR/JPY, USD/JPY resume ascent while AUD/USD tops out

​​​EUR/JPY, USD/JPY resume ascent while AUD/USD tops out amid US dollar strength due to US tariff threats.

Forex Source: Adobe images
Forex Shares Japanese yen USD/JPY EUR/JPY AUD/USD

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Article publication date: 28 January 2025 07:58

​​​EUR/JPY points upwards

EUR/JPY is seen heading back up towards the October-to-January resistance line at ¥164.00 which capped last week. It and the 200-day simple moving average (SMA) at ¥164.46 remain in sight while Monday's low at ¥161.54 underpins (on a daily chart closing basis).

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

​USD/JPY rises

USD/JPY bounces off Monday's ¥153.72 low whilst targeting the ¥160.00 region. First the November peak at ¥156.74 and the ¥158.00 region will need to be overcome.

​Potential support is seen along the 55-day SMA and at last week's low at ¥154.96-to-¥154.78.

​Below ¥153.72 meanders the 200-day SMA at ¥152.81.

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

​AUD/USD keel over

AUD/USD's advance ran out of steam below the 55-day SMA at $0.6328 and is sliding back towards the $0.6200 region.

​Were last week's high at $0.6330 to be overcome, however, a medium-term bullish trend reversal would likely be in the making.

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

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Clients can lose more than they deposit. All trading involves risk.

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