30 Aug 2013
AUD/JPY can't get any higher than 88.00 so far
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 87.68 off recent session lows at 87.50, ahead of a bunch of Japan minor data starting at 23:30 GMT, marginally higher from previous Asia-Pacific open yesterday due to Yen weakness.
AUD/JPY resistance near at 88.20
“Don’t think these are the markets for heroics so if we can pick up 100 pips then we should be grateful,” said FXWW founder Sean Lee, adding: “I bought some AUD/JPY at this time yesterday below 87.00 and added today after the USD/INR reversal near 87.45. I’m looking to book at least some partial profits near short-term Fibo resistance at 88.20 and re-assess from there.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at current levels as August 20 lows 87.65, followed by early NY session highs at 88.04, and Monday's lows at 88.62. To the downside, closest support lies at recent session lows 87.50, followed by August 22 lows at 87.39, and Tuesday's lows at 86.93.
AUD/JPY resistance near at 88.20
“Don’t think these are the markets for heroics so if we can pick up 100 pips then we should be grateful,” said FXWW founder Sean Lee, adding: “I bought some AUD/JPY at this time yesterday below 87.00 and added today after the USD/INR reversal near 87.45. I’m looking to book at least some partial profits near short-term Fibo resistance at 88.20 and re-assess from there.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at current levels as August 20 lows 87.65, followed by early NY session highs at 88.04, and Monday's lows at 88.62. To the downside, closest support lies at recent session lows 87.50, followed by August 22 lows at 87.39, and Tuesday's lows at 86.93.