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Mar 25 - 06:55 AM

AUD/USD Short-Term Top In Place; Watch AUD/JPY

By Peter Stoneham  —  Mar 25 - 05:40 AM
  • Looks like the AUD might have topped out for now

  • Overbought conditions ripe for a correction: watch AUD/JPY

  • The Yen cross also suggesting pullback risk as yen recovers

  • Fundamentally, the yen remains challenged: AUD value on dips

  • Soft BoJ bias and Japan's dependence on energy/commodity imports

  • AUD/USD gained 5% in eight days and AUD/JPY 10.5% this month

  • pullback risk to 0.7450, Mar. 23 low, if the yen cross has peaked

  • Chance of a run back to the 10DMA, 0.8385: could represent value

    For more click on FXBUZ











AUD/JPY daily candle chart: Click here

AUD/USD daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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