AUD/JPY: rallies to 1hr 50 sma on Yen weakness

Ross J Burland FXStreet

AUD/JPY has been capped at 76.51 and in the vicinity of the 100 sma on the 1hr sticks.

The cross is bid on the back of a weaker Yen in Tokyo while the Aussie has stabilized with USD/JPY bid by over 30 pips on the open. The Yen is softer at the start of this week with recent comments from Kuroda keeping expectations of further easing from the BoJ alive when he stated that there was room for rates to move deeper into negative territory.

Analysts at the Bank of Tokyo Mitsubishi explained that they do not expect further easing to be delivered in September, but even if it is delivered they said that they doubt that more of the same easing measures will prove effective at re-weakening the yen on sustainable basis

AUD/JPY levels

Current price is 76.45, with resistance ahead at 76.52 (Daily High), 76.55 (Daily Classic PP), 76.60 (Hourly 100 SMA), 76.71 (Yesterday's High) and 76.75 (Daily Classic R1). Next support to the downside can be found at 76.43 (Hourly 20 EMA), 76.34 (Daily Open), 76.34 (Monthly Low), 76.34 (Weekly Low) and 76.32 (Daily Classic S1).

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.