AUD/JPY making hard work of the upside

FXStreet (Guatemala) - AUD/JPY was failing through 92.00 and supply has taken the pair back down towards the lows which were made when the Yen was in strong demand on the back of heavy risk-off demand throughout todays business.

AUD/JPY plummeted from the highs of 93.44 and continued without seeing any real demand until the 92.00 handle, and even then that was short lived and the pair continued on to mark lows in the US at 91.53. The pair has been climbing there after back into 92’s territories but market forces are making hard work on any bullish attempts and we are back to 91.80/00. This area comes with strong support and has been the supporting level created back in October 2013.