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28 Feb 2014
AUD/JPY bounces and rises back to 91.50
FXStreet (Córdoba) - The AUD/JPY made a strong recovery and finished on Thursday above 91.50 with a moderate loss. Early in Asia is hovering around 91.55 ahead of Japanese and Australian economic data.
The pair weakened yesterday after Australian capex numbers and plummeted during the European session on the back of a strong Yen, falling to 90.70, the lowest price in three week. But the pair rebounded sharply afterwards, accelerating to the upside on American hours.
The rally from 90.70 found resistance at 91.60/65. The pair still holds some bullish short-term momentum. Above immediate resistance could be located at 91.85/90 and then 92.05. To the downside potential support levels lie at 91.41 (American session low) and 91.05.
The pair weakened yesterday after Australian capex numbers and plummeted during the European session on the back of a strong Yen, falling to 90.70, the lowest price in three week. But the pair rebounded sharply afterwards, accelerating to the upside on American hours.
The rally from 90.70 found resistance at 91.60/65. The pair still holds some bullish short-term momentum. Above immediate resistance could be located at 91.85/90 and then 92.05. To the downside potential support levels lie at 91.41 (American session low) and 91.05.