Forex: AUD/JPY holds above 78.00

Tue, 14 Sep 2010 00:47:00 +0200

Forex: AUD/JPY holds above 78.00

FXstreet.com (Córdoba) - After gapping higher at the weekly opening and moving in a horizontal pattern most of the day this Monday, the Australian dollar ended the day almost unchanged against the Japanese Yen.

AUD/JPY moved mostly between 77.95 (intraday low) and 78.49 (5-week high) reached during yesterday's Asian session, to close the day around 78.35, posting a tiny gain for fourth day in a row.

At early trade this Tuesday in Asia, AUD/JPY continues to trade inside that range although it has been moving down since the closing bell over NY, presently at 78.10 ahead of Nikkei opening. To the downside, next supports could be around 78.00 and 77.75, while to the upside, resistance levels might be found at 78.50 and 78.90.

Technical Analysis (2010-09-13 22:30 GMT)

AUD/JPY 78.2/78.23 - O: 76.86 H: 76.88 L: 76.715 C: 76.775

Trend R3: 78.6714
R2: 78.4757
R1: 78.2800
S1: 77.8388
S2: 78.0344
S3: 78.2300