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16 Aug 2013
AUD/JPY bouncing from fresh 3-day lows at 88.60
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 89.93, off recent session and fresh 3-day lows at 88.61, bouncing on the back of Yen weakness with Nikkei index still -0.79% in the negative.
AUD/JPY looking to retest the 90 level
"I’ve taken a small long intraday position near 88.75 with a tight stop below 88.50, looking for 90.00 later tonight,” said FXWW founder Sean Lee, adding: “Momentum funds have been selling USD/JPY this morning but stops below 97.00 remain safe for now. Japanese banks have been noted buyers of AUD/USD in recent trade near .9125/30.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at Monday's highs 89.03, followed by Wednesday's lows at 89.06, and yesterday's Asian session lows at 89.26. To the downside, closest support lies at recent NY session lows 88.74, followed by recent session lows at 88.60, and Tuesday's lows at 88.50.
AUD/JPY looking to retest the 90 level
"I’ve taken a small long intraday position near 88.75 with a tight stop below 88.50, looking for 90.00 later tonight,” said FXWW founder Sean Lee, adding: “Momentum funds have been selling USD/JPY this morning but stops below 97.00 remain safe for now. Japanese banks have been noted buyers of AUD/USD in recent trade near .9125/30.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at Monday's highs 89.03, followed by Wednesday's lows at 89.06, and yesterday's Asian session lows at 89.26. To the downside, closest support lies at recent NY session lows 88.74, followed by recent session lows at 88.60, and Tuesday's lows at 88.50.