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AUD/JPY: Gains Capped At 20-Day EMA

AUD

AUD/JPY saw gains capped at the 20-Day EMA (¥93.97) yesterday, since breaking below the measure in early July the measure has emerged as a key level for bulls. The move off session highs on Tuesday came alongside pressure on US equities.

  • In early dealing on Wednesday the pair is little changed from opening levels and sits at ¥93.65/70.
  • Bulls first target the 20-Day EMA (¥93.97), a break through here opens the high from 10 Aug (¥94.94) and the high from 26 July (¥95.90).
  • On the downside bears look to break the low from 18 Aug (¥92.79) which opens the 200-Day EMA (¥92.56) and the post BOJ low from July (¥91.80).

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