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YEN: The JPY crosses shook off the as expected domestic CPI release, with focus
on next Friday's BoJ MonPol decision. USDJPY last deals at 107.50, EURJPY at
132.70, with AUDJPY at 83.05.
- USDJPY support around the 55-DMA (106.84) remains, while layers of resistance
remain between 107.77-108.42. Momentum studies are back at neutral levels and
well placed for gains.
- EURJPY has seen support emerging ahead of the 55-DMA (131.74), which has
provided bulls with comfort this week. Despite relentlessly pressuring the
100-DMA (133.04) bulls have failed to produce the close above needed to shift
initial focus higher.
- AUDJPY's 84.06 resistance level confirmed its significance with an aggressive
rejection ahead of this level on Thursday leaving the pair looking heavy and
initial focus back on the highs from April 06 & 09 (82.58). Bears need a close
below this level to ease bullish pressure and below the April 06 low (81.87) to
confirm a break of the 21-DMA (82.33). Correcting overbought studies are
weighing with bulls needing a close above 83.59 to gain breathing room.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |