Simple story this week: The Japanese yen was the top performer as risk aversion kicked in and hope for BOJ stimulus flounders. The Australian dollar was the laggard on a soft CPI report.
The pair fell 1% on the week or 93 pips.
I wrote about selling the pair earlier in the week and said in early April that it looked like it was running out of gas.
Technically, the weekly chart has sagged down to test the mid-March high but it’s still not screaming ‘sell’. But if that level breaks it would open up a deeper correction to trendline support or the 100-week moving average.
AUD/JPY weekly
