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Confidence Deteriorating as AUD/USD, AUD/JPY and USD/JPY Test Support

Confidence Deteriorating as AUD/USD, AUD/JPY and USD/JPY Test Support

2014-01-31 13:30:00
Christopher Vecchio, CFA, Senior Strategist
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Talking Points:

- AUDUSD and AUDJPY start to break through consolidation support.

- USDJPY still at risk for decline into ¥101.50.

- Emerging market currencies back under pressure.

To keep up with the emerging market turmoil, be sure to sign up for my distribution list.

Euro-Zone inflation fell back to a post-2008 crisis low but investors are focused on the return of emerging market fears return over the past several hours. The higher yielding major currencies, notably the Australian Dollar, is suffering against lower yielding counterparts, the Japanese Yen and the US Dollar.

A number of JPY-crosses are nearing significant short-term levels that could see breakouts develop if risk appetite continues to suffer.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

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