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4 Mar 2014
AUD/JPY - Sellers step in to refuse 91.00 post RBA
FXStreet (Bali) - AUD/JPY was rejected off 91.00/15 resistance following the RBA monetary policy decision, in which rates and the policy stance were kept unchanged.
RBA makes reference to high AUD
While the RBA statement was almost identical, the devil for longs was is in the details, with the central bank adding that the exchange rate remains "historically high", a comment that was omitted in the January statement.
AUD/JPY outlook
The technical outlook for AUD/JPY remains bearish for the week, with the latest selling off 91.00/91.15 resistance a sign that sellers are well camped on the upside protecting a key technical area. A resumption of the short term bear trend is in the cards, especially if 90.50 support is taken out, which would pave the way for a return towards the 90/90.10.
RBA makes reference to high AUD
While the RBA statement was almost identical, the devil for longs was is in the details, with the central bank adding that the exchange rate remains "historically high", a comment that was omitted in the January statement.
AUD/JPY outlook
The technical outlook for AUD/JPY remains bearish for the week, with the latest selling off 91.00/91.15 resistance a sign that sellers are well camped on the upside protecting a key technical area. A resumption of the short term bear trend is in the cards, especially if 90.50 support is taken out, which would pave the way for a return towards the 90/90.10.