Japanese Yen Technical Analysis: AUD/JPY, GBP/JPY, USD/JPY Key Levels
2021-05-05 03:00:00
Daniel Moss,
Analyst
Japanese Yen, AUD/JPY, GBP/JPY, USD/JPY, Cycle Analysis – Talking Points:
Cycle analysis suggests the Japanese Yen may be at risk of extended losses against its major counterparts in the coming months.
Ascending Triangle hints at gains for AUD/JPY rates.
Ascending Channel pattern guiding GBP/JPY rates higher.
Key support at 109.00 holding firm for USD/JPY.
The Japanese Yen has faced significant headwinds in recent weeks, as climbing sovereign bond yields put the carry-trade back in vogue. This dynamic looks set to endure over the near-term and may open the door to further losses for JPY. Here are the key levels for AUD/JPY, GBP/JPY and USD/JPY rates.