SEB intraday outlook for EUR/JPY and AUD/USD - eFXnews

FXStreet (Łódź) - The eFXnews team comment that SEB analysts expect EUR/JPY to target 137.50/70 before sliding, while AUD/USD is facing resistance at 0.9420.

Key quotes

"There were EUR/JPY bids in the support zone last week price action shows."

"The high session close Fri towards 137.50/70 as a correctional objective area."

"When dissecting this into hourly observations it should be noted that a sub-136.77 break would complete a near-term three-wave structure higher and thus indicate that a fresh low in the making."

"Current intraday stretches are located at 136.60 & 137.555."

"AUD/USD support around 0.933 was confirmed again last week."

"The market closed strongly Fri, which puts some attention back at recent 0.9459 high."

"But there is resistance around the flat 21day 'Kijun-Sen' (21day high/low average) at 0.9420."

"If this level holds buyers at bay and there is a later sub-09330 break, a 'Head & Shoulders' looking type of top would be confirmed, which in turn would highlight longer-term important levels close to 0.9200."

"AUD/NZD also face tougher resistance at 1.0840."