by Wed, 16 Jun 2010 00:20:00 +0200
Forex: AUD/JPY tests resistance around 79.10
FXstreet.com (Córdoba) - The rally of the Australian dollar against the Japanese Yen seems to have found resistance at the 79.20 zone, where it peaked at the end of the American session. The Aussie continues to move along with sentiment and on Tuesday's rose boosted by a rally in U.S. equities.
AUD/JPY fell during the European trade and reached levels as low as 77.50 before bouncing recovering around 160 pips and closing the day with a gain of 0.65%.
Currently the pair trades around 79.10, close to daily highs. If the Aussie manages to overcome the present level, next resistance could be faced at the 79.60 zone (Jun 14 high) followed by the 80.00 level.
| Technical Analysis (2010-06-15 22:13 GMT) | |
|---|---|
AUD/JPY 79.08/79.14 - O: 79.1 H: 79.16 L: 79.06 C: 79.1 | |
| Trend | R3: 79.5558 |
 | R2: 79.3579 |
| R1: 79.1600 | |
| S1: 78.6348 | |
| S2: 78.8324 | |
| S3: 79.0300 | |
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