29 Jan 2015
AUD/JPY falls to 3-month lows
FXStreet (Córdoba) - AUD/JPY is falling for the third day in a row and recently bottomed at 91.78, hitting the lowest price since October 2014. The aussie has been the worst performer since the Asian session, weakened by expectations of a dovish statement (or even a rate cut) by the Reserve Bank of Australia next week.
Yesterday the pair climbed to 94.50 but the lost strength and started to pullback amid a recovery of the yen in the market and then plummeted after the RBNZ statement, ending the day at 92.60. A few hours ago broke below 92.60 and accelerated to the downside, falling under 92.00 for the first time in months.
The area around 91.70/80, where last October lows lie, could offer support; if it drops below it would be trading at the lowest since March. To the upside, immediate resistance now lies at 92.00, 92.40 and 92.60.
Yesterday the pair climbed to 94.50 but the lost strength and started to pullback amid a recovery of the yen in the market and then plummeted after the RBNZ statement, ending the day at 92.60. A few hours ago broke below 92.60 and accelerated to the downside, falling under 92.00 for the first time in months.
The area around 91.70/80, where last October lows lie, could offer support; if it drops below it would be trading at the lowest since March. To the upside, immediate resistance now lies at 92.00, 92.40 and 92.60.