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29 Jan 2014
AUD/JPY back to 91.00 as stocks rise in Asia
FXstreet.com (Córdoba) - The AUD/JPY jumped early in Asia from 90.40 to 91.01, reaching the strongest level since last Thursday after the Turkish central bank raised interest rates aggressively. The move by Turkey weakened the Yen across the board favoring the upside in the AUD/JPY.
At the moment of writing the pair remains near the highs, with upside momentum as stocks rise in Asia. The Nikkei 225 is up 1.85% in the first minutes of trading.
AUD/JPY recovery continues
On Tuesday the pair rose for the second day in a row and moved further away from Monday’s low that lie at 88.44. The hourly trend favors the upside and offers support at 90.30. During yesterday’s trading the pair weakened as it approached 91.00. Currently is testing that level again. If it breaks higher resistance levels could be located at 91.05, 91.55 (January 16, 21 low) and 91.75.
At the moment of writing the pair remains near the highs, with upside momentum as stocks rise in Asia. The Nikkei 225 is up 1.85% in the first minutes of trading.
AUD/JPY recovery continues
On Tuesday the pair rose for the second day in a row and moved further away from Monday’s low that lie at 88.44. The hourly trend favors the upside and offers support at 90.30. During yesterday’s trading the pair weakened as it approached 91.00. Currently is testing that level again. If it breaks higher resistance levels could be located at 91.05, 91.55 (January 16, 21 low) and 91.75.