JAPANESE YEN, AUD/JPY, CAD/JPY, NZD/JPY – TALKING POINTS:
- Bearish RSI divergence hints at near-term pullback for AUD/JPY.
- CAD/JPY rates challenging key long-term downtrend resistance.
- NZD/JPY uptrend may be running out of steam.
The Japanese Yen has lost a significant amount of ground against its major counterparts in recent months and is at risk of further losses, as the haven-associated currency hovers precariously above sentiment-defining support. Here are the key levels to watch for AUD/JPY, CAD/JPY and NZD/JPY rates in the weeks ahead.
JAPANESE YEN INDEX** WEEKLY CHART – PERCHED PRECARIOUSLY ABOVE 200-MA
