Back
2 Aug 2013
AUD/JPY retracing from 89.02 intraday high
FXstreet.com (Chicago) - AUD/JPY managed to correct higher following 6 consecutive losing days, with the pair currently retesting 88.90/89.00 broken-support-turned-resistance.
Price action indicated Aussie’s retracement consolidated on aftermath of plunge generated by Reserve Bank Governor Glenn Stevens’ comments on economic panorama. Nonetheless, within the past hour, the Australian dollar seemed to strengthen against a yen that accumulated losses against most majors on Thursday’s session.
Trading at 88.92, the pair oscillated between supports at 88.75, 88.01 (July 31 highs) and 87.42 (July 20 lows) and resistances at 89.03 (July 30 lows), 89.16 (June 22 lows) and 89.29 (June 20 lows).
Price action indicated Aussie’s retracement consolidated on aftermath of plunge generated by Reserve Bank Governor Glenn Stevens’ comments on economic panorama. Nonetheless, within the past hour, the Australian dollar seemed to strengthen against a yen that accumulated losses against most majors on Thursday’s session.
Trading at 88.92, the pair oscillated between supports at 88.75, 88.01 (July 31 highs) and 87.42 (July 20 lows) and resistances at 89.03 (July 30 lows), 89.16 (June 22 lows) and 89.29 (June 20 lows).