The GBPJPY (aka the Guppy) is closing in on some key support at the 127% Fibonacci extension of the February lows to highs and the 261% extension of the last rally at the 138.90-139.40 level.
Ahead of the RBA decision tonight the AUDJPY has broken key support as the China/US trade negotiations apparently are strained.
The AUDJPY broke out of the 2019 range and into new yearly highs last week. As long as we remain above the 79.80 level the risk remains to the upside.
Gold has spent the last 2 months consolidating within a flat bottom triangle.
The EURJPY is at multi week highs and testing the key 61.8% Fibonacci retracement.
There is no doubt that the EURJPY has a lot of support from the 123.80-124.00 level, but the recent shallow bounce and flag pattern suggest a break down may happen soon.
The AUDJPY fell aggressively overnight to channel support following RBA Governor Lowe’s comments about the path of the next rate move would be.