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28 Mar 2014
AUD/JPY en route to target 95.65
FXStreet (Bali) - AUD/JPY is breaking into higher territoty at the Tokyo open, with the rate posting a new 5-month high at 94.90.
Stops triggered in AUD/USD above 0.9275 helped to boost the pair, reinforcing the bullish technical picture as longs clear a sticky resistance zone through 94.50. The Nikkei 225 (-0.44%) is off to a modest performance, which should limit further positive AUD/JPY flows.
The technical breakout paves the way for further gains seeking Oct 22 high at 95.65. On the downside, an approach back down towards 94.25/50 should meet buyers.
Stops triggered in AUD/USD above 0.9275 helped to boost the pair, reinforcing the bullish technical picture as longs clear a sticky resistance zone through 94.50. The Nikkei 225 (-0.44%) is off to a modest performance, which should limit further positive AUD/JPY flows.
The technical breakout paves the way for further gains seeking Oct 22 high at 95.65. On the downside, an approach back down towards 94.25/50 should meet buyers.