USD/JPY Technical Analysis

The US dollar initially fell a bit against the Japanese yen but turned around to show signs of life. After the BOJ announcement, which really wasn’t much of an announcement, we are sitting right around the 200-day EMA, and we are in the middle of this consolidation area that we have been in for some time.

The 146 level on the bottom is support. The 149 level on the top is resistance. If we can break above the 149 yen level, then I think we really start to take off towards the 151 yen level. All things being equal, this is a market that I do think you favor the upside, not necessarily the downside, but we are still very bound.

AUD/USD Technical Analysis

The Australian dollar continues to fall and now looks a lot like the euro. Are we going to reenter the previous consolidation area? I don’t think it’s necessarily a market that you need to sell right away, but it certainly doesn’t look strong. We’ll just have to wait and see. The 0.67 level was important back in October of 2024 and it has shown itself to be important again. That being said, this is a market that I think is still one that you need to be a little bit cautious with, but ultimately, I am starting to become more neutral again, and this may have been just a bunch of noise. Again, I think the market will probably think about this over the weekend, and then we have to make a bigger move.

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