![AUD/JPY analysis: Targeting a break of 87.01 weekly support [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Crosses/AUDJPY/forex-australia-and-japanese-currency-pair-with-calculator-4780678_XtraLarge.jpg)
Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the AUDJPY daily and 15-minute charts.
Author
Duncan Cooper
ACY Securities
Duncan Cooper is a full-time trader and mentor. He has been actively trading the financial markets for more than 15 years and has traded stocks, options, futures, and the Forex Market since 2005.
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The US Dollar resumed its decline in the American afternoon, helping EUR/USD trim early losses. The pair trades around 1.1750 as market participants gear up for the European Central Bank monetary policy decision and the United States Consumer Price Index.
The GBP/USD changed course after dipping with UK inflation data, and trades near the 1.3400 mark, as investors expect the Bank of England to deliver a 25 basis points interest rate cut after the two-day meeting on Thursday.
The XAU/USD pair gained on a deteriorated market mood, trading near its weekly highs near $4,340. The bright metal advances with caution as market players await first-tier events in Europe and hte United States.
Bitcoin (BTC) remains under pressure, trading below $87,000 on Wednesday, nearing a key support level. A decisive daily close below this zone could open the door to a deeper correction.
While the Fed eased its monetary policy on 10 December for the third consecutive FOMC meeting, without making any guarantees about future action, the BoE, the ECB and the BoJ are holding their respective meetings this week.
Bitcoin faces extended pressure as institutional investors reduce their risk exposure. Ethereum’s upside capped at $3,000, weighed down by ETF outflows and bearish signals. XRP slides toward November’s support at $1.82 despite mild ETF inflows.
