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AUD/JPY: Resistance Ahead of 20-Day EMA, BOJ On Tap

AUD

AUD/JPY finished ~0.5% yesterday as firmer US Tsy Yields weighed on the Yen. Resistance was seen ahead of the 20-Day EMA (¥96.18) and gains were pared into the close.

  • The cross sits at ¥95.75/80, little changed from closing levels, in early trade this morning.
  • Bulls immediate focus is on the 20-Day EMA, a break through here opens the high from 5 Dec (¥97.51) and 2023 highs (¥98.62).
  • On the downside bears focus on the 200-Day EMA (¥94.55), the ¥94 handle and the low from 3 Oct (¥93.06).
  • Due today is the latest monetary policy decision from the BOJ, a reminder that the MNI preview can be viewed here.

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