The EUR/JPY retreated from last week’s high of around 158.47 amid fears of an intervention by Japanese authorities, dropped 0.54% on Monday, and reach
ed the top of the Ichimoku Cloud at around the current exchange rate. The cross is trading at 157.02 as the Asian session begins.portrays the pair as neutral biased, capped on the downside by the Kumo at around 157.00. A breach of the latter will expose 156.00, followed by the bottom of the Kumo at around 155.49. Conversely, if EUR/JPY reclaims the Tenkan-Sen at 157.59, that could pave the way to test the Senkou-Span A line at 157.88. Up next would be 158.00.
The EUR/JPY is bearish on the hourly chart, with the cross exchanging hands below the Kumo, while the Tenkan-Sen sits below the Kijun-Sen. However, as price action seems overextended, the pair is subject to a mean reversion move towards the Tenkan-Sen at 157.30 before resuming its downtrend towards the September 28 low of 156.70, followed by the 156.00 figure.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.The AUD/USD pair consolidates its recent losses above the mid-0.6300s during the early Asian session on Tuesday. Traders prefer to wait on the sidelines ahead of the Reserve Bank of Australia monetary policy meeting on Tuesday.EUR/USD continued to face downward pressure and dropped below 1.0780, reaching the lowest intraday level since December of last year.
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