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17 Apr 2014
AUD/JPY finds resistance at 96.00, again
FXStreet (Córdoba) - The AUD/JPY extended gains during the American session and peaked at 96.01 reaching the highest price since April 10 but once again the Aussie lost momentum around the 96.00 zone and pulled back.
Currently the AUD/JPY trades at 95.78, retreating further and moving with a downside bias but on a wider perspective the technical outlook has improved significantly for the Aussie in the last 24 hours.
From Tuesday’s lows the pair has risen more than a hundred pips and recovered after testing levels below 95.00. Price managed to rise back to the trading range.
AUD/JPY key levels
Despite trading several times since the beginning of the current month above 96.00 the AUD/JPY has been unable to post a daily close significantly above and always pulled back The same situation applies to the important support area around 95.00: price fell momentarily below but it was rejected and rose back above.
Currently the AUD/JPY trades at 95.78, retreating further and moving with a downside bias but on a wider perspective the technical outlook has improved significantly for the Aussie in the last 24 hours.
From Tuesday’s lows the pair has risen more than a hundred pips and recovered after testing levels below 95.00. Price managed to rise back to the trading range.
AUD/JPY key levels
Despite trading several times since the beginning of the current month above 96.00 the AUD/JPY has been unable to post a daily close significantly above and always pulled back The same situation applies to the important support area around 95.00: price fell momentarily below but it was rejected and rose back above.