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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

Axel Rudolph

Market 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

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