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10 Jan 2014
AUD/JPY recovers after testing levels below 93.00
FXstreet.com (Córdoba) - The AUD/JPY finished with small losses on Thursday, after moving during all day in a range of 50 pips.
During the European session the pair bottomed at 92.91, hitting the lowest price in almost a week, but the Aussie rebounded and rose quickly back above 93.00 trimming losses, to finish at 93.20.
AUD/JPY sideways, near important support
The outlook for the pair continues to be sideways in the short-term, with the price unable to break clearly above 94.00 and to the downside with support at 92.90. The mentioned area below 93.00 capped declines two times during the current week, if the Aussie falls below it would be trading at the lowest level since December 24.
To the upside, immediate resistance could be located at 93.30 (American session highs) and above 93.55 and 93.85 (January 8 high). To the downside, below 92.90 the next support might lie at 92.75 (December 23, 24 lows) and 94.50.
During the European session the pair bottomed at 92.91, hitting the lowest price in almost a week, but the Aussie rebounded and rose quickly back above 93.00 trimming losses, to finish at 93.20.
AUD/JPY sideways, near important support
The outlook for the pair continues to be sideways in the short-term, with the price unable to break clearly above 94.00 and to the downside with support at 92.90. The mentioned area below 93.00 capped declines two times during the current week, if the Aussie falls below it would be trading at the lowest level since December 24.
To the upside, immediate resistance could be located at 93.30 (American session highs) and above 93.55 and 93.85 (January 8 high). To the downside, below 92.90 the next support might lie at 92.75 (December 23, 24 lows) and 94.50.