Forex: AUD/JPY dealing around previous 2012 highs 89.00
FXstreet.com (Barcelona) - With Yen being weakest currency among majors in last 2 days, followed by Aussie, AUDJPY cross is last at 88.88, off recent weekly highs at 88.96, slightly lower from previous 2012 highs past week around 89. Yen weakness on hopes for further BoJ monetary stimulus have helped Nikkei index printing today fresh 2012 highs above the 10300 points mark, higher +0.89% so far on the day.
"Taro Aso is the 6th finance minister in recent years and is well known for his willingness to open the purse strings in order to promote economic activity. USDJPY is edging higher and maintaining it's bullish tone," said Sean Lee, founder at FXWW. AUDJPY is higher +1.22% from Monday close, and about the same for the week, adding almost +13% year to date.
Immediate resistance to the upside for AUDJPY shows at recent weekly/past Monday's fresh 2012 highs 88.97/89.05, followed by May 02 2011 highs at 89.32, and April 28 highs at 89.60. To the downside, closest support lies at current levels as Dec 19 highs 88.87, followed by Dec 21 highs at 88.54, and Dec 20 lows/Monday's close at 87.85.
"Taro Aso is the 6th finance minister in recent years and is well known for his willingness to open the purse strings in order to promote economic activity. USDJPY is edging higher and maintaining it's bullish tone," said Sean Lee, founder at FXWW. AUDJPY is higher +1.22% from Monday close, and about the same for the week, adding almost +13% year to date.
Immediate resistance to the upside for AUDJPY shows at recent weekly/past Monday's fresh 2012 highs 88.97/89.05, followed by May 02 2011 highs at 89.32, and April 28 highs at 89.60. To the downside, closest support lies at current levels as Dec 19 highs 88.87, followed by Dec 21 highs at 88.54, and Dec 20 lows/Monday's close at 87.85.
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