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20 Aug 2013
AUD/JPY down below 89.00 ahead of RBA minutes
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 88.90 bids, off recent fresh session and weekly lows at 88.82 printed on the back of combined Aussie weakness and Yen strength, ahead of key risk event of the day in the form of RBA minutes at 01:30 GMT.
AUD/JPY lower for the week
The Aussie did not managed yesterday to overcome the long term descending trend line coming from early April highs against USD, with reportedly heavy selling interest in the interbank premarket, followed by leveraged names later on on the retraces. Stops are also seen below USD/JPY 97.00 in decent size. The cross is down -0.72% for the week thus far.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at August 02 highs 89.17, followed by August 13 highs at 89.63, and August 14 highs at 89.87. To the downside, closest support lies at recent session/weekly lows 88.90, followed by Friday's lows at 88.60, and August 12 NY session lows at 88.25.
AUD/JPY lower for the week
The Aussie did not managed yesterday to overcome the long term descending trend line coming from early April highs against USD, with reportedly heavy selling interest in the interbank premarket, followed by leveraged names later on on the retraces. Stops are also seen below USD/JPY 97.00 in decent size. The cross is down -0.72% for the week thus far.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at August 02 highs 89.17, followed by August 13 highs at 89.63, and August 14 highs at 89.87. To the downside, closest support lies at recent session/weekly lows 88.90, followed by Friday's lows at 88.60, and August 12 NY session lows at 88.25.