US stock indices under pressure as yields climb German CPI could dictate next week’s ECB rhetoric Yen underperformance lingers; all eyes on Friday’s Tokyo CPI Dollar rallied on Tuesday, US stock indices were mixed Following a couple of negative sessions, the US dollar showed its strength yesterday as it managed to outperform the euro.

US inflation resumes downtrend, retail sales stagnate Dollar falls as investors add to Fed rate cut bets Yen gains even as Japanese economy contracts Wall Street at fresh records, gold rallies on US data   Cool inflation, flat retail sales hurt the dollar The dollar tumbled against all its major peers yesterday after the US CPI data revealed that inflation in the world’s largest economy resumed its downtrend in April, allowing investors to ramp up their Fed rate cut bets.

AUDJPY prints higher highs and higher lows above uptrend line MACD and RSI detect positive momentum A break above 100.80 will confirm a higher high For the outlook to change, a break below 95.80 may be needed AUDJPY pulled back lately, after it hit resistance at around 100.80 on April 9. However, the pair remains above all three of the plotted exponential moving averages (EMAs) and above an uptrend line drawn from the low of July 28, which means that the chances of the bulls r

AUDJPY trades lower, tries to return inside the contracting triangle It is preparing to test the support set by the 50-day SMA Momentum indicators support the current bearish move AUDJPY is enjoying its fourth consecutive red candle, after failing to trade decisively above the September 13, 2022 high at 98.50, as the recent comments by BoJ members have provided some respite to the bruised yen.

AUDJPY trades higher, clears the 100-day SMA A contracting triangle has been forming as AUDJPY volatility drops Momentum indicators remain uninterested in current upmove AUDJPY is enjoying its fourth consecutive green candle as JPY remains under pressure across the board. AUDJPY has managed to climb above the busy 96.16-96.70 area but has not tested the March 24, 2023 upward sloping trendline.

AUDJPY trades higher, a tad below its recent high The March 24, 2023 trendline continues to define price action Momentum indicators mostly uninterested in recent moves AUDJPY is enjoying another green candle as JPY remains under pressure across the board. AUDJPY continues to trade above both the busy 96.20-96.88 area and the March 24, 2023 ascending trendline after failing multiple times to decisively trade below it.

AUDJPY enjoys fastest weekly growth since June Risk skewed to the upside, but gains could be limited RBA policy announcement due on Tuesday at 03:30 GMT   AUDJPY has turned its eyes back to June’s peak of 97.65 after a constructive week of strong gains. The RSI and the stochastic oscillator are warning that the latest rapid upturn may not be durable, as the indicators are already testing their overbought levels.

AUDJPY is enjoying another red candle, hovering inside the busy 92.78-93.63 range. The bears are staging the first significant pullback following the strong upward move that commenced in March 2023, breaking below the March 24, 2023 upward trend channel, while religiously observing the June 19, 2023 downward sloping trendline. The momentum indicators are not yet supportive of the bears’ intentions despite this current downleg.

AUDJPY entered a sliding mode after it hit resistance at 97.65 on June 19. That said, the slide was stopped near the 95.15 key support zone, which offered strong resistance in the recent past and specifically during October. Combined with the fact that the price structure remains one of higher highs and higher lows above the uptrend line drawn from the low of March 24 and above all the plotted exponential moving averages (EMA), this keeps the near-term picture positive.

AUDJPY has been recording an exponential move since early June, registering nine consecutive green candlesticks. This is an undeniable confirmation of the underlying strength of the current upleg that pushed this pair to the highest level since September 14, 2022. AUDJPY is now hovering just above the 96.47 level with the bears trying to find an appropriate area to set up their defence.

AUDJPY is continuing its journey higher, moving within the March 24, 2023 upward trend channel. It is currently testing the resistance set by the 23.6% Fibonacci retracement of the August 20, 2021 – September 13, 2022 downtrend at 93.63. This is the highest price recorded since December 1, 2022 and a full 9% higher from the March 2023 lows. The interesting fact about the recent rally is that it has been developing with the Average Directional Movement Index (ADX) signaling an almost range-tra

AUDJPY is hovering around the 91 level, just a tad above a rather busy area that is key for market sentiment. This pair has actually been trading inside an aggressive upward sloping trend channel, but its upside is currently being capped by the 200-day simple moving average (SMA). Therefore, AUDJPY has failed to record a higher high, which means that the bearish pattern of lower highs and lower lows that started on September 13, 2022 remains in place.

AUDJPY has come under fresh selling pressure after a succession of three higher highs over the last couple of months. The last one took the pair’s retracement of the September 2022 – March 2023 downtrend to the 50% Fibonacci level, peaking at 92.42. However, despite falling back and then rebounding, AUDJPY is on the slide again, slipping below the converging 20- and 100-day simple moving averages (SMA) in the 90.15 region today.

AUDJPY is edging lower today as it tests the support set by the September 13, 2022 downward sloping trendline. This pair has been enjoying a medium-term bearish trend since the 98.50 high, but it has not been a one-way street. Actually, the bulls have managed to stage a decent rally since the March 24, 2023 low of 86.05, raising questions on the viability of the medium-term downleg.

It is the start of a new month and time for another RBA rate-setting meeting. While this is expected to be overshadowed by the week’s other key central meetings, the market remains extremely interested in the RBA’s assessment of the economic developments in the wider region. The week also includes some noteworthy data releases and the quarterly Statement of Monetary Policy.

AUDJPY came under buying interest yesterday from near the 87.25 zone, which offered support on December 20 and January 3, as well as back on May 12. In the bigger picture, the pair seems to be trading in a trendless mode, establishing a new sideways range between that area and the 93.00 hurdle. The moving averages are lying above the current price, but in a sideways action it may be more prudent to rely on momentum studies, like the RSI and the MACD.

AUDJPY has been under selling pressure this week, crashing below its 50-day simple moving average (SMA) on Tuesday. However, the price appears to be bouncing off the medium-term ascending trendline today, and the momentum indicators suggest that a rebound could be underway. The RSI has already started to turn upwards, having dipped below 50 on Friday, but has yet to reach its zero neutral line.

AUDJPY fell sharply on Tuesday after the BoJ raised the cap on 10-year bond yields. The pair broke below the key support (now turned into resistance) territory of 91.00, which had been stopping it from drifting lower since July. Up until now, AUDJPY is nearly 4.5% lower, which combined with the break below 91.00 suggests that the bears are back in the driver’s seat.

Bank of Japan makes surprise tweak to its YCC policy, insists it’s not tightening Dollar slumps 3% against yen, Nikkei plunges as markets see move as exit from stimulus Gold supported as broader market mood remains downbeat BoJ widens yield target range The Bank of Japan ended weeks of speculation about a policy pivot and took its first step on Tuesday to move away from years of ultra-loose monetary policy.

Yen jumps, yields slip as anti-lockdown protests in China dent sentiment Oil slumps to one-year low amid rising concerns about Chinese demand Stocks start the week in the red as NFP and other crucial data eyed Growing protests in China rattle markets Risk assets took a knock at the start of the week as worries about instability in China and how the country’s unyielding zero-Covid policy might further blight the outlook led investors to search for safety.