• As we look at these charts it remains very difficult at the moment to get constructive on JPY crosses as the bias on all appears to be for lower levels.
•
NZDJPY: Is struggling to follow through following the move to new highs in the rally since January.Very good support is met in the 62.25-50 area and a break below here would suggest a danger of a fall towards 55.80-56.80 again.
•
AUDJPY: Similar picture with good support in the 76.30-77.40 range. Below here and 69.50-71.00 could be a danger.
•
EURJPY: Is so far holding good support around 132.15 but below could open up for 127 to 128.50. (Below 127 would be even more serious.)
•
GBPJPY: A test of good support in the 145-146.70 area is still a danger while below here would significantly extend the downside potential.
JPY crosses- Really do not look very constructive
Linear Mode
