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10 Mar 2014
AUD/JPY falls for the second day in a row
FXStreet (Córdoba) - The AUD/JPY is about to finished Monday hovering around 93.10, falling for the the second day in a row, retreating further after being unable to hold above 94.00 last week.
During Monday´s Asian session, after a weak opening for the Aussie across the board following Chinese economic data, the AUD/JPY opened lower and bottomed at 92.88 but then managed to bounced to the upside, trimming losses.
The recovery was capped around the 93.50 zone and pulled back toward 93.00. On American session hours traded below 93.00 but it fail to make a clear break.
Technical outlook for the AUD/JPY
The pair is moving within a small trading range with support around the 93.00 mark and resistance at the 93.50 zone. Since Friday’s American session the AUD/JPY is moving with a corrective bias.
To the downside the area around 92.70 and 93.00 is a strong support, considering that it capped the upside several times last month.
During Monday´s Asian session, after a weak opening for the Aussie across the board following Chinese economic data, the AUD/JPY opened lower and bottomed at 92.88 but then managed to bounced to the upside, trimming losses.
The recovery was capped around the 93.50 zone and pulled back toward 93.00. On American session hours traded below 93.00 but it fail to make a clear break.
Technical outlook for the AUD/JPY
The pair is moving within a small trading range with support around the 93.00 mark and resistance at the 93.50 zone. Since Friday’s American session the AUD/JPY is moving with a corrective bias.
To the downside the area around 92.70 and 93.00 is a strong support, considering that it capped the upside several times last month.