21 Aug 2013
AUD/JPY stalling the sell-off above 88.00
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 88.15 bids, off fresh 8-day lows printed in early London trade at 87.60 following yesterday's RBA meeting minutes.
AUD/JPY taking the biggest hit
“Heavy selling is being reported in all of the Yen crosses with risk-aversion very high across all markets,” said FXWW founder Sean Lee, adding: “Emerging markets are still bearing the brunt of heavy repatriation flows and AUD/JPY has taken the biggest hit amongst FX pairs. Next technical support in the cross is near 87.25.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session highs/Friday's lows 88.51/57, followed by August 12 highs at 89.04, and yesterday's Asian session highs at 89.22. To the downside, closest support lies at August 12 lows 88.02, followed by mentioned fresh 8-day lows at 87.58/60, and August 01/06 lows at 87.25/20.
AUD/JPY taking the biggest hit
“Heavy selling is being reported in all of the Yen crosses with risk-aversion very high across all markets,” said FXWW founder Sean Lee, adding: “Emerging markets are still bearing the brunt of heavy repatriation flows and AUD/JPY has taken the biggest hit amongst FX pairs. Next technical support in the cross is near 87.25.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session highs/Friday's lows 88.51/57, followed by August 12 highs at 89.04, and yesterday's Asian session highs at 89.22. To the downside, closest support lies at August 12 lows 88.02, followed by mentioned fresh 8-day lows at 87.58/60, and August 01/06 lows at 87.25/20.