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AUD/JPY Bulls are losing momentum

AUD/JPY sellers stood their ground and buyers retreated in recent sessions as MACD (26, 12, 9) has fallen off below its median line.

On a 4hr chart, this technical condition may be taken by many trend-following traders as a trigger to liquidate long positions.

The fact that the MACD hasn't been under zero for at least one week of trading, reinforces the argument that room for further AUD/JPY depreciation is there.

USD/JPY: Bearish pressures intact, hovering around 119.50

The US dollar continues to get battered versus the Japanese currency in the mid-European trades, now keeping USD/JPY near fresh session lows struck below 119.50 – key levels.
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German FM Schaeuble: Low interest rates are like a drug addiction - Rabobank

Elwin de Groot, Senior Eurozone Strategist at Rabobank, notes that German finance minister Schaeuble was quoted as saying in a speech to an industry group in Berlin that “low interest rates are like a drug addiction”, which creates “problems” and that he would rather pay a small real interest rate than none at all.
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