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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

AUD/USD slips as EUR/JPY, USD/JPY rallies run out of steam

AUD/USD slips as EUR/JPY, USD/JPY rallies run out of steam​ ahead of US-China trade talks at the weekend.

AUD/USD Source: Adobe images

Written by

Axel Rudolph FSTA

Axel Rudolph FSTA

Senior Technical Analyst

Article publication date:

​​​AUD/USD tries to hold at support 

AUD/USD found support between the February-to-April highs at $0.6388-to-$0.6439, having come off Wednesday's $0.6515 five-month high. 

Minor resistance remains to be seen along the 200-day simple moving average (SMA) at $0.6454.

AUD/USD chart Source: TradingView

​EUR/JPY nears resistance 

EUR/JPY is once again losing upside momentum marginally its December-to-January ¥164.54-to-¥164.90 highs which remains a key resistance area. While it caps, a slip back towards Tuesday's ¥161.60 low may unfold. from where it is still recovering. 

​The mid-April high at  ¥163.27 may offer minor support. 

Only if the ¥164.54-to-¥164.90 resistance zone were to be exceeded, would the October high at ¥166.68 be back in view.

EUR/JPY chart Source: TradingView

​USD/JPY rallies 

USD/JPY sharp rally over the past couple of days has taken it to ¥146.18, a one month high. From this level the cross seems to retreat with the 4 April low at ¥144.55 being in focus. 

​A rise above ¥146.18 would engage the 55-day SMA and the March low at ¥146.54-to-¥146.64 ahead of this year's downtrend line at ¥146.97.​​ 

USD/JPY chart Source: TradingView