By Andrew M Spencer — Aug 25 - 11:50 PM
Trades -0.2% at the base of a 0.6780-0.6798 range, capped by yen strength
AUD/JPY is 0.6% lower - yen strengthened after dovish Fed's Powell Friday
Considerable volumes on LSEG Matching since the open, despite a tight range
Charts; 5, 10 & 21-day, week moving averages climb - mixed momentum studies
21-day Bollinger bands expand - overall a strong positive trending setup
The 0.6798 July trend top capped - 0.6871 Dec 2023 high is next resistance
A close above 0.6871 would target 0.6895/00, the June and July 2023 high
Break below 0.6697/01, Thursday's low and 21-DMA would end the topside bias
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary