AUD/USD tests support as EUR/JPY and USD/JPY stabilize ahead of payrolls

IG

The AUD/USD currency pair is currently testing significant support levels as traders anticipate the upcoming US Non-Farm Payrolls report. If these support levels fail, traders will likely focus on the $0.6400 region for further declines.

Minor resistance is observed along the downtrend line that has persisted since September.

EUR/JPY and USD/JPY Stability

The EUR/JPY is trying to maintain its position above key support levels, while the USD/JPY is in a recovery phase.

The current market sentiment is heavily influenced by the anticipation of the US Non-Farm Payrolls report. Traders are closely monitoring economic data releases and central bank policies.

Importance of Technical Analysis

Technical analysis remains a vital tool for traders, especially for the AUD/USD, EUR/JPY, and USD/JPY pairs. Traders must remain vigilant and adaptable to changing conditions in the forex market.

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

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