4.15 Australian dollar rebounds against yen and against the dollar

This article is not intended to indicate or recommend buy/sell timing.

Please make your own investment decisions.

Among yesterday's analysis, the AUD/JPY pair has been moving with high performance amid a subdued currency market.

Oil charts were analyzed at the same time, and driven by rising stocks and resources, it surged together with the New Zealand dollar.

After breaking the 83.47 neckline, it continued to rise without a pullback.

With resistance at 84.5 looming in the near term, the upward momentum has paused for now, but if it breaks through, it is expected to surpass the recent highs.

Today is a Gott date, so if flow-driven selling of the yen occurs before the Tokyo fix, there is a possibility it could break out even in the morning.

Similarly, the USD/JPY pair is showing a first dip-resistance at a rising trendline that serves as a neckline candidate, indicating a pause in decline.

With low US rates weighing on the market, there is little momentum for a rise, and while there have been sporadic buys that paused the move for now, the current view is that this is only a mild autonomous rebound.

Overall, the USD/JPY rate tends to correlate with the 10-year US yield, so it would be better to monitor the decline-stabilization and rebound of US yields rather than focusing on fine-grained rates.

For now, 1.6 coincides with a neckline for US rates and is expected to provide strong support, suggesting the USD/JPY pair may be nearing a near-term bottom.

Today I want to focus on the EUR/USD.