USD/JPY Technical Analysis
The US dollar has raised higher against the Japanese yen during the trading session on Friday to touch the 148 yen level and by extension, the 200 day EMA. This is a market that I do think breaks out eventually, but as things stand right now, it is rather difficult to get above here. If we do, then the 149 yen level is your next target. Anything above there opens up the floodgates. I expect to see that sooner or later, I just don’t know if we’ll see it right at this moment.
AUD/USD Technical Analysis
The Australian dollar has fallen yet again against the US dollar to reach the 0.6550 region yet again. We are in a fairly obvious uptrending channel, we are right in the middle of it, so this is about as neutral as it gets. Longer term, it does look like we want to go higher, but it’s more of a grind, it’s not really a huge move that I think it is going to push this market, I think it’s going to lull people to sleep for some time. And in fact, if you draw the channel out a little bit, maybe make it a little bit longer in time, you can even make an argument that we’re just continuing the same channel we were in before that big dip in early April, with the tariffs being announced.
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