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13 Aug 2013
AUD/JPY capped below 89.00 ahead of Japan data
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 88.77, off recent NY session lows at 88.24, bouncing on the back of Yen weakness and USD strength against Yen.
AUD/JPY downside bias is seen
According to AceTrader Team: “Aud's present retreat after extending last Wed's near 8-mth low at 86.42 to 89.03 today suggests 1st leg of correction over n downside bias is seen.” The analyst's Team see risk above 89.09 to reach 89.52/57, while holding shorts from 88.70 with the stop loss at 89.10 and the target profit at 87.85.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at Friday's highs 88.77, followed by Aug 02 highs at 89.18, and July 15 lows at 89.64. To the downside, closest support lies at recent NY session lows 88.22, followed by August 02 lows at 87.89, and August 01/06 lows at 87.25/19.
AUD/JPY downside bias is seen
According to AceTrader Team: “Aud's present retreat after extending last Wed's near 8-mth low at 86.42 to 89.03 today suggests 1st leg of correction over n downside bias is seen.” The analyst's Team see risk above 89.09 to reach 89.52/57, while holding shorts from 88.70 with the stop loss at 89.10 and the target profit at 87.85.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at Friday's highs 88.77, followed by Aug 02 highs at 89.18, and July 15 lows at 89.64. To the downside, closest support lies at recent NY session lows 88.22, followed by August 02 lows at 87.89, and August 01/06 lows at 87.25/19.