3 Feb 2015
AUD/JPY depressed below 90.00
FXStreet (Edinburgh) - The bearishness surrounding the Aussie dollar is taking a toll on AUD/JPY, now hovering over 89.80/75.
AUD/JPY hurt by RBA
The recent and not entirely unexpected decision by the RBA to cut its refi rate by 25 bps in today’s meeting confined the Pacific cross to the area below the psychological support at 90.00. After testing fresh 1-year lows around 89.40 in the wake of the announcement, the cross was able to pick some pace and retake the upper-89.00s although the prospects for a more relevant rebound remain subdued so far.
AUD/JPY relevant levels
The cross is now losing almost 2% at 89.89 with the next support at 89.37 (2015 lows Feb.3) followed by 88.26 (low Feb.4) and then 86.40 (low August 2013). On the flip side, a breakout of 91.00 (psychological mark) would expose 91.82 (high Feb.3) and then 92.03 (Feb.2).
AUD/JPY hurt by RBA
The recent and not entirely unexpected decision by the RBA to cut its refi rate by 25 bps in today’s meeting confined the Pacific cross to the area below the psychological support at 90.00. After testing fresh 1-year lows around 89.40 in the wake of the announcement, the cross was able to pick some pace and retake the upper-89.00s although the prospects for a more relevant rebound remain subdued so far.
AUD/JPY relevant levels
The cross is now losing almost 2% at 89.89 with the next support at 89.37 (2015 lows Feb.3) followed by 88.26 (low Feb.4) and then 86.40 (low August 2013). On the flip side, a breakout of 91.00 (psychological mark) would expose 91.82 (high Feb.3) and then 92.03 (Feb.2).