Back
28 Aug 2013
AUD/JPY dips to fresh 3-week lows but holds above 87.00
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 87.15, off recent fresh 3-week lows printed in late NY session at 86.92, on the back of massive Yen strength while Aussie has remained more stable.
AUD/JPY still sliding
“Asian currencies are continuing to slide against the USD and stock-markets are uniformly in the red,” said FXWW founder Sean Lee, adding: “This risk-aversion sentiment is encouraging sellers of AUD/JPY, now over 1.1% lower on the session. The EUR/USD and cable are remaining remarkably calm despite the movements in other markets.” AUD/JPY is down more than -2% for the week thus far.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at August 22 lows 87.38, followed by August 20 lows at 87.58, and August 21 lows at 87.62. To the downside, closest support lies at recent session lows 87.08, followed by August 08 lows at 87.03, and mentioned fresh 3-week lows at 86.92.
AUD/JPY still sliding
“Asian currencies are continuing to slide against the USD and stock-markets are uniformly in the red,” said FXWW founder Sean Lee, adding: “This risk-aversion sentiment is encouraging sellers of AUD/JPY, now over 1.1% lower on the session. The EUR/USD and cable are remaining remarkably calm despite the movements in other markets.” AUD/JPY is down more than -2% for the week thus far.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at August 22 lows 87.38, followed by August 20 lows at 87.58, and August 21 lows at 87.62. To the downside, closest support lies at recent session lows 87.08, followed by August 08 lows at 87.03, and mentioned fresh 3-week lows at 86.92.