21 Jul 2015
AUD/JPY: Will it break 92.50?
FXStreet (Córdoba) - The aussie is rising against the Japanese yen on Tuesday and it has approached a key level. AUD/JPY is holding above 90.00 but remains limited.
Today during the Asian session bottomed at 91.32 weakened after RBA minutes. But then risk appetite and a strong recovery of the AUD/USD during the American session boosted the pair back above 92.00 despite some strength of the yen after Kuroda's comments.
AUD/JPY keeps the range
Since last week price has been moving between 92.40 and 91.00, consolidating after being able to recover from 89.14 (July 9 low). In order to open the door for further gains, a break above 92.50 seems needed. AUD/JPY on top of 92.50 would be trading at the strongest since early July and without major resistance until 93.20.
On the opposite direction, a consolidation significantly below 91.00, could trigger a bearish run, exposing 90.40 and then the area around 89.00.
Today during the Asian session bottomed at 91.32 weakened after RBA minutes. But then risk appetite and a strong recovery of the AUD/USD during the American session boosted the pair back above 92.00 despite some strength of the yen after Kuroda's comments.
AUD/JPY keeps the range
Since last week price has been moving between 92.40 and 91.00, consolidating after being able to recover from 89.14 (July 9 low). In order to open the door for further gains, a break above 92.50 seems needed. AUD/JPY on top of 92.50 would be trading at the strongest since early July and without major resistance until 93.20.
On the opposite direction, a consolidation significantly below 91.00, could trigger a bearish run, exposing 90.40 and then the area around 89.00.