AUD/JPY recovers from 90.00, still facing pressure

FXStreet (Córdoba) - The AUD/JPY finished Monday below Friday’s closing price but away from session lows, hovering around 90.60. At the beginning of the week the opened lower and fell further finding support at 90.04. From there bounced to the upside and peaked during the American session at 90.75.

Despite moving away from 90.00 the AUD/JPY is still facing pressure, moving with a downside bias since last Friday when it started to decline after finding resistance near 93.00.

The Ukraine crisis favored the Yen across the board while the Aussie managed to hold, ahead of the economic data from Australia and RBA’s decision. The central bank will release a statement at 03:30 GMT.

Mar 4, 2014

USD/JPY retaining safe haven status

Rabobank analysts explained that while liquidity levels are high in the yen, Japan’s poor fiscal position and weakened current account position may in time impact its safe haven role, though there is no question that the yen retains a key safe haven role at present.

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Mar 4, 2014

Flash: Ukraine; significant market impacts - Rabobank

Analysts at Rabobank explained and said, “When demonstrators flooded the street of Kiev in December to protest against the President’s spurning of a deal which would have brought closer ties to the EU, there was no speculation that events would escalate to the point that the US was considering sanctions on Russia as a result of the decision by Russia’s parliament to send troops into Ukraine to protect its interests”.

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