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24 Feb 2014
AUD/JPY hits 2-day lows
FXStreet (Córdoba) - The AUD/JPY recently reached a fresh 2-day low at 91.63, after starting the week above 92.00. The Aussie is among the worst performers for far on Monday.
AUD/JPY remains sideways in the short-term
During the last two weeks the AUD/JPY has moved within a trading range with support above 91.00 and resistance at 93.00. A break of the range could signal a continuation of the movement.
Currently short-term momentum favors the downside, particularly after finding resistance on Friday at 92.40. Price has fallen below the 20 and 55 SMA in the four hour charts, suggesting a probable test of 91.00.
To the upside, before 93.00, immediate resistance lies at 92.00 and above at 92.45 (American session high).
AUD/JPY remains sideways in the short-term
During the last two weeks the AUD/JPY has moved within a trading range with support above 91.00 and resistance at 93.00. A break of the range could signal a continuation of the movement.
Currently short-term momentum favors the downside, particularly after finding resistance on Friday at 92.40. Price has fallen below the 20 and 55 SMA in the four hour charts, suggesting a probable test of 91.00.
To the upside, before 93.00, immediate resistance lies at 92.00 and above at 92.45 (American session high).