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AUD/JPY: Holding Below 20-Day EMA

AUD

AUD/JPY has held before the 20-Day EMA (¥94.91) in recent dealing as lower equities and metals weigh on the AUD. We do remain well within the ¥94/96 range which has persisted for the most part since mid-September.

  • In early dealing on Monday we sit at ¥94.65/70.
  • The immediate focus of bulls is a break of the 20-Day EMA which opens the high from 12 Oct (¥95.83), high from 30 Sep (¥96.92) and ¥98.13 a Fibonacci projection.
  • On the downside bears target the low from 13 Oct (¥94.05) and the 200-Day EMA (¥93.36). A break through here opens ¥91.80, Jul 28 low, and ¥90.26, May 31 low.

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