22 May 2015
AUD/JPY bears licking their lips
FXStreet (Guatemala) - AUD/JPY is currently trading at 95.66 with a high of 95.72 and a low of 95.49.
AUD/JPY has been edging its way down in a drift on the closing session of Asia while USD/JPY bulls are losing the battle yet again on the 121 handle with a dip to test the 120.80 support zone. The bears are not by any means out of the woods yet though and there is plenty of scope for a test again of the upside but traders will be hesitant to position themselves too long ahead of Yellen tomorrow.
Yellen is scheduled to talk at 1 p.m. ET with a speech on the economy to the Greater Providence Chamber of Commerce and this will be grabbing the headlines ahead of the three-day Memorial Day weekend. AUD/JPY will be caught up in the cross fire around the Aussie also which has been a tentative bid on the lows of the hourly downside channel from the vicinity of 0.8160 that came of last week's business. A break of 0.7860 would be confirming more to go there and 95.20 would be last defence of the handle in the corss and would bring 94.40 in to view.
AUD/JPY has been edging its way down in a drift on the closing session of Asia while USD/JPY bulls are losing the battle yet again on the 121 handle with a dip to test the 120.80 support zone. The bears are not by any means out of the woods yet though and there is plenty of scope for a test again of the upside but traders will be hesitant to position themselves too long ahead of Yellen tomorrow.
Yellen is scheduled to talk at 1 p.m. ET with a speech on the economy to the Greater Providence Chamber of Commerce and this will be grabbing the headlines ahead of the three-day Memorial Day weekend. AUD/JPY will be caught up in the cross fire around the Aussie also which has been a tentative bid on the lows of the hourly downside channel from the vicinity of 0.8160 that came of last week's business. A break of 0.7860 would be confirming more to go there and 95.20 would be last defence of the handle in the corss and would bring 94.40 in to view.