27 Mar 2014
AUD/JPY retreats further from 6-month highs
FXStreet (Córdoba) - The AUD/JPY continues to pullback early in Asia, as the Yen rises across the board and recently reached a fresh daily low at 93.84. On Wednesday the pair soared and climbed to 94.68, hitting the highest price since October 23.
The Aussie lost momentum during Wednesday’s American session and retreated trimming gains. The pair closed the day above 94.00 but far from the highs. After stabilizing around 94.10, resume the decline in Asia, losing the 94.00 level.
To the downside, immediate support levels lie at 93.45 (March 11, 13 highs) and 92.80 (March 18, 19 highs). The area around 94.10 has now become an intraday resistance; above the next level to consider lies at 94.55 and then 94.65/70 (March 26 highs).
The Aussie lost momentum during Wednesday’s American session and retreated trimming gains. The pair closed the day above 94.00 but far from the highs. After stabilizing around 94.10, resume the decline in Asia, losing the 94.00 level.
To the downside, immediate support levels lie at 93.45 (March 11, 13 highs) and 92.80 (March 18, 19 highs). The area around 94.10 has now become an intraday resistance; above the next level to consider lies at 94.55 and then 94.65/70 (March 26 highs).