EUR/JPY and AUD/JPY have broken key technical support this week, but the weekly performance breakdown shows only 0.1–0.3 percentage points of that weakness comes from genuine Yen strength—the rest reflects Dollar and Yen as the two strongest majors, with intervention risk capping USD/JPY and forcing Euro, Aussie, Sterling and Kiwi weakness to pass directly into their Yen crosses.
The post Why Are EUR/JPY and AUD/JPY Breaking When USD/JPY Is Barely Moving? appeared first on ActionForex.
Immediate focus is now on 0.8551 support in EUR/GBP with today’s decline. Firm break there will indicate that corrective rebound from 0.8453 has completed at 0.8611. Deeper fall should then be seen to retest this Read more…
EUR/AUD’s break of 1.6258 support confirms short term bottom at 1.6072. Intraday bias is back on the upside for 1.6444 resistance first. Firm break there will target 1.6617 key structural resistance next. On the downside, Read more…
EUR/CHF is still bounded in range below 0.9478 and intraday bias stays neutral. In case of another fall, downside should be contained by 38.2% retracement of 0.9094 to 0.9478 at 0.9331 to bring rebound. On Read more…