..but coming off highs
The AUDJPY is the strongest of the currency pairs today. The gain is about 0.6% but is coming off its highs over the last hour or so as US stocks start to give up some of their gains on the day.
Looking at the hourly chart, the pairs rise today saw the price move back above its 100 hour MA at 85.345 and also correct down to it, before moving to a new day high. That high did stall near a swing high going back to last Wednesday at 85.928. The price has rotated back down to 85.61 currently. That puts the price near the midpoint above the 100 hour MA at 85.34 and the swing high level at 85.928.
As I type, the US stocks continue their move lower with the major indices now trading at or near session lows (alt):hough still positive on the day). Lower stocks tend to weaken the AUDJPY (all things being equal
- The Dow is trading up 48 points or 0.13%. The high saw the index up 0.42%
- The S&P is trading up 0.28% after being up as high 0.7%
- The NASDAQ index is trading up 0.25% after being as high as 1.03%.
