As shown on the chart, the currency pair remains relatively calm and was gradually moving north during the second part of the European trading session.
As for near future, the EUR/JPY pair might be tended northwards during the next trading session, and could likely breach the upper boundary of a dominant channel.
By the end of the European trading session, the AUD/USD pair was bouncing between SMAs. The 55– hour SMA was providing resistance at 0.7934 and the 100—hour SMA supported the rate at 0.7908.
A breakout is expected from the SMAs during the next 24 hours. First, if the currency pair moves past the 55—hour SMA, it could be heading for a re-test of the upper boundary of the trend-line. Second, If it moves past the 100—hour SMA, it will find support at weekly PP at 0.7891.
Check out our trading platform: