25 Mar 2015
AUD/JPY: Bids are shot lived and faded
FXStreet (Guatemala) - AUD/JPY is currently trading at 94.30 with a high of 94.43 and a low of 94.15.
AUD/JPY upside potential is diminishing as every effort forward the pair is taken back two steps with 94.40 coming in as resistance while bears target at the 94 handle currently. Through the downside of this support, 93.60 is next target while bringing the cross back into line and into neutral territory.
Fundamentally, there is nothing to note, only a day ahead from the US shift that may impact the counterparts to the cross directly, but earlier we had the Financial Stability Review report from the Reserve Bank of Australia where the RBA noted that supervision of lending standards should help cool down rising home prices, adding that some banks are likely to have to reduce their lending activity.
AUD/JPY upside potential is diminishing as every effort forward the pair is taken back two steps with 94.40 coming in as resistance while bears target at the 94 handle currently. Through the downside of this support, 93.60 is next target while bringing the cross back into line and into neutral territory.
Fundamentally, there is nothing to note, only a day ahead from the US shift that may impact the counterparts to the cross directly, but earlier we had the Financial Stability Review report from the Reserve Bank of Australia where the RBA noted that supervision of lending standards should help cool down rising home prices, adding that some banks are likely to have to reduce their lending activity.