16 Jul 2013
AUD/JPY below 91 ahead of RBA minutes
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 90.91, off double weekly high at 91.07 printed in late London and NY trade respectively, ahead of RBA meeting minutes at 01:30 GMT in the first trading day in Tokyo after a 3-day weekend.
AUD/JPY path of least resistance higher
“AUD/JPY support above 89.50 has proven to be very resilient indeed and we again got a bounce overnight,” said FXWW founder Sean Lee, adding: “Resistance levels are light until 93.00 so the path of least resistance in the short-term would seem to be higher.” The cross is higher by +1.33% for the week so far, mostly on the back of Yen weakness.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at mentioned weekly highs 91.07, followed by July 08 lows at 91.37, and July 09 lows at 91.75. To the downside, closest support lies at recent session lows 90.70, followed by Thursday's lows at 90.08, and Friday's lows at 89.70.
AUD/JPY path of least resistance higher
“AUD/JPY support above 89.50 has proven to be very resilient indeed and we again got a bounce overnight,” said FXWW founder Sean Lee, adding: “Resistance levels are light until 93.00 so the path of least resistance in the short-term would seem to be higher.” The cross is higher by +1.33% for the week so far, mostly on the back of Yen weakness.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at mentioned weekly highs 91.07, followed by July 08 lows at 91.37, and July 09 lows at 91.75. To the downside, closest support lies at recent session lows 90.70, followed by Thursday's lows at 90.08, and Friday's lows at 89.70.