by Fri, 21 May 2010 01:44:00 +0200
Forex: AUD/JPY falls to 10-month low
FXstreet.com (Córdoba) - AUD/JPY fell further on Thursday dropping over 500 pips. The pair recently broke below 72.00 to hit a fresh 10-month low at 71.84 at the beginning of the session.
The price has slightly picked up and is currently around 72.50, 0.98% below its opening price, although the charts show the pair heading south. Next important support ahead at 70.65/70 July 2009 lows.
The Aussie continues losing ground on a null risk tolerance market. The AUD is accumulating losses for over 1000 pips this week against the Yen, this is the sharpest weekly fall since October 2008.
| Technical Analysis (2010-05-20 23:29 GMT) | |
|---|---|
AUD/JPY 72.58/72.65 - O: 72.69 H: 72.72 L: 72.2 C: 72.63 | |
| Trend | R3: 73.2645 |
 | R2: 73.0822 |
| R1: 72.9000 | |
| S1: 72.2768 | |
| S2: 72.4584 | |
| S3: 72.6400 | |
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