by Tue, 06 Apr 2010 05:43:00 +0200
AUD/JPY pops lower bottoming at zone 86.20
FXstreet.com (Barcelona) – JPY crosses are being quite volatile through Asian session as pairs appear willing to unleash some wild movements ahead of the long-expected RBA decision, which may trigger some moves depending on the rate outcome.
AUD/JPY faced a roof on its meteoric rise at 87.20 area on Monday. The pair then pull back closing at 86.90 level. The Japanase Yen continues to correct to the downside against the dominant trend. Following the sharp drop limited by 86.22, the Aussie bounced off slightly up at 86.30 (current pricing).
On the downside, the next strong support area comes at 86.00 area (Jan 11 high). On the upside, resistance can be taken at fresh 11-month high (yesterday's high) at 87.22 zone.
| Technical Analysis (2010-04-06 03:33 GMT) | |
|---|---|
AUD/JPY 86.36/86.39 - O: 86.3 H: 86.37 L: 86.25 C: 86.35 | |
| Trend | R3: 86.7717 |
 | R2: 86.5559 |
| R1: 86.3400 | |
| S1: 85.7790 | |
| S2: 85.9945 | |
| S3: 86.2100 | |
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