In a similar way to CAD/JPY, AUD/JPY looks ready to rollover. It is breaking the wedge, touching 50 MA and reversing lower.
50 MA < 100 MA < 200 MA which is bearish in daily time frame.
It's also below daily Ichimoku cloud, and trying to retest the cloud, but reverse lower before touching it.
Pair should at least test 50 back at 91.8, but I suspect it can make new low.
All Yen cross is dangerous at this stage, with exception of USD/JPY that moves together with USD instead of with Yen.
Yen cross drops not because of Yen. In other words, CAD/JPY drops because USD/CAD rallies strongly. AUD/JPY drops because AUD/USD drops strongly. NZD/JPY drops because NZD/USD drops strongly.
USD/JPY should continue higher, but the pace of USD/JPY rally is not as big as the pace of the drop in NZD/USD, AUD/USD, etc and that's why the Yen cross drops.
50 MA < 100 MA < 200 MA which is bearish in daily time frame.
It's also below daily Ichimoku cloud, and trying to retest the cloud, but reverse lower before touching it.
Pair should at least test 50 back at 91.8, but I suspect it can make new low.
All Yen cross is dangerous at this stage, with exception of USD/JPY that moves together with USD instead of with Yen.
Yen cross drops not because of Yen. In other words, CAD/JPY drops because USD/CAD rallies strongly. AUD/JPY drops because AUD/USD drops strongly. NZD/JPY drops because NZD/USD drops strongly.
USD/JPY should continue higher, but the pace of USD/JPY rally is not as big as the pace of the drop in NZD/USD, AUD/USD, etc and that's why the Yen cross drops.