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AUDUSD & USDJPY in Focus

AUDUSD & USDJPY in Focus

Michael Boutros, Strategist

The USDJPY breakout has run into initial resistance around the 2007 highs. A near-term structure is in play off last week's lows and we'll continue to track it for guidance heading into the start of June trade with a break below risking a near-term pullback in the pair.

For the latest scalp targets, review today's Scalp Report

AUDUSD has broken below the 7680 support level noted yesterday keeping the short play in focus. On the sidelines here heading into the month-end though as daily momentum holds 40-support & month end flows come into effect.

For the latest intradya levels, review yesterday's AUDUSD setup.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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