24 Apr 2014
AUD/JPY breaks below 94.80, falls to 4-week lows
FXStreet (Córdoba) - The AUD/JPY was able to recover ground, after falling yesterday to 94.80 but the recovery was short lived and it fell under pressure again. After climbing during the Asian session to 95.32, turned to the downside, fell back below 95.00 and plummeted afterwards to 94.55, level not seen since March 27.
During the American session the AUD/JPY moved sideways between 94.60 and 94.80. If it ends around current levels, it would be posting the second daily loss in a row and the lowest close for April.
More correction ahead for AUD/JPY?
With recent decline the Aussie is breaking a trading range that has been intact since late March. The rally from 88.30 (February lows) was unable to make a clear break of the 96.00 area, that capped the upside.
During the American session the AUD/JPY moved sideways between 94.60 and 94.80. If it ends around current levels, it would be posting the second daily loss in a row and the lowest close for April.
More correction ahead for AUD/JPY?
With recent decline the Aussie is breaking a trading range that has been intact since late March. The rally from 88.30 (February lows) was unable to make a clear break of the 96.00 area, that capped the upside.