​​AUD/USD rally stalls

AUD/USD's rally stalled slightly above the $0.6895-99 June and July 2023 highs, as expected. Above Wednesday's high at $0.6908 lies the January 2022 low at $0.6968.

Wednesday's bearish engulfing pattern on the daily candlestick chart may lead to a minor reversal being seen, but only if a fall through Wednesday's low at $0.6819 were to occur. Even in this scenario overall upside pressure should remain in play while Thursday's low at $0.6738 underpins.

AUD/USD chart Source: TradingView.com AUD/USD chart Source: TradingView.com

EUR/JPY looks bid

EUR/JPY is gradually advancing towards its 55-day simple moving average (SMA) at ¥162.30, above which potentially beckons the ¥163.89-¥164.04 resistance zone, made up of the mid-August high and the 200-day SMA.

Minor support below Monday's ¥159.05 low remains to be seen at the 12 September high at ¥157.51.

EUR/JPY chart Source: TradingView.com EUR/JPY chart Source: TradingView.com

USD/JPY recovers further

USD/JPY still targets the ¥147.21 early September high as well as the ¥147.44 55-day SMA.

Minor support below Wednesday's ¥142.90 low remains to be seen at the ¥141.70 August low.

USD/JPY chart Source: TradingView.com USD/JPY chart Source: TradingView.com