Mixed Signals for Japanese Yen Crosses Amid Stabilization

Japanese yen crosses are sending mixed signals in the market, with USD/JPY and GBP/JPY showing signs of stabilizing after recent declines. However, both pairs still face nearby resistance.

AUD/JPY looks less convincing, with downside momentum keeping the March low and lower support levels in focus.

USD/JPY is forming a near-term top, according to technical analysis, but could recoup some of Friday's losses. The 200-day EMA and 50-day EMA are capping prices as resistance, making it a 'scrappy trade' for now.

GBP/JPY has formed a bullish outside day, hinting at a swing low around the February and September lows. Bulls could seek dips within yesterday's range while prices hold above 206.85.