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17 May 2013
Forex: AUD/JPY below 100.00 for second time in a month
FXstreet.com (Barcelona) - AUD/JPY is currently at 99.86, off fresh session and 3-week lows at 99.77, bellow the key 100 round mark for second time since the month started. The cross is down -2.05% for the week so far, even though is still up +12% year to date, and +21.15% in last 6 months.
As James Glynn just pointed out in his Twitter account, Senior Economics Reporter at Dow Jones/Wall Street Journal, “Best explanation for AUD fall so far is simple Japanese liquidation. So much for the watanabe rush post-BOJ easing theory,” James said. The move lower in AUD/JPY comes in the back almost completely of Aussie weakness, being the weakest major currency among all in last 2 trading days.
Immediate support to the downside form AUD/JPY lies at recent session/3-week lows 99.77, followed by March 25 highs at 99.44, and March 27 highs/May 02 lows at 99.33. To the upside, closest resistance shows at yesterday's/May 02 lows 100.25, followed by May 07/08/09 lows at 100.40, and Tuesday's lows at 100.67.
As James Glynn just pointed out in his Twitter account, Senior Economics Reporter at Dow Jones/Wall Street Journal, “Best explanation for AUD fall so far is simple Japanese liquidation. So much for the watanabe rush post-BOJ easing theory,” James said. The move lower in AUD/JPY comes in the back almost completely of Aussie weakness, being the weakest major currency among all in last 2 trading days.
Immediate support to the downside form AUD/JPY lies at recent session/3-week lows 99.77, followed by March 25 highs at 99.44, and March 27 highs/May 02 lows at 99.33. To the upside, closest resistance shows at yesterday's/May 02 lows 100.25, followed by May 07/08/09 lows at 100.40, and Tuesday's lows at 100.67.