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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/JPY, USD/JPY little changed post Japan inflation print, AUD/USD recovers

EUR/JPY, USD/JPY little changed as Japan headline inflation remains above 2% target, AUD/USD recovers.

USD/JPY Source: Bloomberg

EUR/JPY flattens out

EUR/JPY hit the ¥163.72 late-November high but has so far been capped by it.

The accelerated uptrend line at ¥162.87 should offer support, together with Monday's ¥162.57 low.

Medium-term upside pressure should remain in play while the 13 February high at ¥161.63 and, more importantly, the 15 February low at ¥160.92, underpin.

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

USD/JPY range bound but bullish while above ¥149.54

USD/JPY still trades in low volatility above the minor psychological ¥150.00 mark, having on Friday come close to its four-month high at ¥150.88.

Above it the October-to-November record highs remain on the scene at ¥150.91 to ¥150.94.

Only if the mid-February ¥149.54 low were to give way, would the ¥148.89 to ¥148.80 support zone be back in sight.

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

AUD/USD's slip tries to find support

AUD/USD slid back below the 200-day simple moving average (SMA) at $0.6561 and dropped to its $0.6526 mid-January low which acted as support.

Below it lies the mid-February low at $0.6495. As long as it doesn't give way, the mid-February advance remains intact.

The $0.6610 to $0.6631 late-January to early-February highs and 55-day SMA aren't expected to be reached in the next few days, though.

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

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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