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2 Mar 2015
AUD/JPY: The downside prevails; heading towards a break of 93.00
FXStreet (Guatemala) - AUD/JPY is currently trading at 93.15 with a high of 93.60 and a low of 93.14.
AUD/JPY continues along the bearish path despite the recent positiveness from Chinese data that initially supported the Aussie on the release. Meanwhile, the Yen is treading on the this ice place just below the psychological 120.00 level with a number of resistance's along the way of the handle before a true break to the upside can be confirmed.
AUD/JPY is in fact heading towards a break of the 93 handle to the downside, with just the 93.10 support getting the bears way bringing last week;s lows into clear sight down at 92.70. This week brings the RBA, and this is likely to be the main catalyst from a fundamental view point. with they or will they not cut 'this time' around, as the majority of the market is bias towards further easing from the Central Bank in 2015.
AUD/JPY continues along the bearish path despite the recent positiveness from Chinese data that initially supported the Aussie on the release. Meanwhile, the Yen is treading on the this ice place just below the psychological 120.00 level with a number of resistance's along the way of the handle before a true break to the upside can be confirmed.
AUD/JPY is in fact heading towards a break of the 93 handle to the downside, with just the 93.10 support getting the bears way bringing last week;s lows into clear sight down at 92.70. This week brings the RBA, and this is likely to be the main catalyst from a fundamental view point. with they or will they not cut 'this time' around, as the majority of the market is bias towards further easing from the Central Bank in 2015.