Back
13 Mar 2014
AUD/JPY rebounds and climbs back above 92.00
FXStreet (Córdoba) - The AUD/JPY finished flat on Wednesday hovering around 92.30 after falling on the previous two days. Ahead of the Australian employment report the pair seems steady, still holding some upside momentum but facing resistance at 92.50.
On Wednesday the AUD/JPY bottomed at 91.63, reaching the lowest price since last Thursday, but then, supported by risk appetite, bounced to the upside erasing all losses. The rally brought the price back above 92.00 but was capped by 92.50.
AUD/JPY recovers, but still down for the week
Despite the recent bullish run, the AUD/JPY still trades 130 pips below Friday’s closing price. On Tuesday the Australian Dollar was the worst performer across the board, while on Wednesday stabilized.
At 00:30 GMT labor market numbers from Australia will be released. A positive number is expected. Volatility in Aussie’s crosses is likely to increase in the coming hours.
On Wednesday the AUD/JPY bottomed at 91.63, reaching the lowest price since last Thursday, but then, supported by risk appetite, bounced to the upside erasing all losses. The rally brought the price back above 92.00 but was capped by 92.50.
AUD/JPY recovers, but still down for the week
Despite the recent bullish run, the AUD/JPY still trades 130 pips below Friday’s closing price. On Tuesday the Australian Dollar was the worst performer across the board, while on Wednesday stabilized.
At 00:30 GMT labor market numbers from Australia will be released. A positive number is expected. Volatility in Aussie’s crosses is likely to increase in the coming hours.