As global financial markets continue to evolve, investors keenly watch the currency exchange rates to make informed decisions. In recent times, the EUR (Euro), AUD and NZD have captured attention as they compete against the JPY (Japanese Yen).  We analyse the latest trends in currency pairs. This is aiming to provide insights into whether the EUR, AUD, and NZD are advancing against the JPY

The AUDJPY Performance

The last time we analysed this pair was on 21 July, a bullish signal through a price pattern seemed to be forming on the H1 timeframe. The short-term movement turned to a longer wait to the upside. The move took longer to formulate, so the buyers could not sustain its position.

We now see a much bigger bullish flag on the D1 timeframe suggesting that the support could be the area now that works to push to the upside. Support on the momentum timeframe formed at 93.630. We still look to the upside however any momentum timeframe candle beneath 93.630 with a close will nullify and render this setup void. Take Profit is now set at a price point of 98.130.

The EURJPY Performance

Price has been ranging in the bullish expanding triangle for just over 6 weeks. The range has extended to support area 151.324 but managed to recover back into the price pattern. Lowering the view down to the D1, support may have been found for the push to the upside.

Targets are still in place as indicated previously. We still however need a price to close above 157.841 with a Daily candle. The daily timeframe is more stable in comparison to the shorter timeframes.

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The NZDJPY Performance

The NZD is back with strength.

Traders can identify the falling wedge price pattern on the daily frame signalling upside which went further down to support level 86.131. We may see the setup follow through this week. Furthermore, entries for both aggressive traders at price point 88.951 and conservative traders at price point 89.696 can be seen. Both entries need the momentum timeframes to close above resistance levels. Targets are set at 91.647 and 93.328.

Final Thoughts On Today’s Analysis 

Based on the prevailing trends and factors influencing the currency markets, the EUR, AUD, and NZD have shown signs of advancing against the JPY this week. The Euro, supported by robust economic indicators and an optimistic recovery outlook in the Eurozone, has gained strength against the Japanese Yen. 

Similarly, the Australian Dollar and New Zealand Dollar have benefited from strong economic performances in their respective countries, increased risk appetite, and the Japanese Yen's low-yield status.