Forex: AUD/JPY stalls the fall above 94.00
FXstreet.com (Barcelona) - Despite recent Aussie strength pulling AUDUSD back to flat from previous weekly close Friday, last at 1.0513, off recent fresh session lows at 1.0493, AUDJPY cross is near session lows last at 94.07, on the back of Yen strength, down a -0.64% so far. Nikkei index also opened to the upside above the 10900 points mark, but now also sells off below the 10800 points, -1.11% down so far for the session.
Plenty of talk making the rounds about the 2-day BoJ meeting started today, where it is widely expected BoJ will announce the 2% inflation target, plus a possible JPY 10T stimulus package, while speculative market is extremely short the yen, and USDJPY starts showing bearish divergences in oscillators readings. Japan Fin Min Amari is said to attend this BoJ meeting.
Immediate support to the downside for AUDJPY shows at recent session lows 93.95, followed by Jan 11 lows at 93.74, and Jan 07 highs at 92.83. To the upside, closest resistance shows at initial weekly price/Jan 11-14-15 highs 94.52/66, followed by Thursday's fresh 4-year highs at 95.01, and Dec 2007 lows at 95.20.
Plenty of talk making the rounds about the 2-day BoJ meeting started today, where it is widely expected BoJ will announce the 2% inflation target, plus a possible JPY 10T stimulus package, while speculative market is extremely short the yen, and USDJPY starts showing bearish divergences in oscillators readings. Japan Fin Min Amari is said to attend this BoJ meeting.
Immediate support to the downside for AUDJPY shows at recent session lows 93.95, followed by Jan 11 lows at 93.74, and Jan 07 highs at 92.83. To the upside, closest resistance shows at initial weekly price/Jan 11-14-15 highs 94.52/66, followed by Thursday's fresh 4-year highs at 95.01, and Dec 2007 lows at 95.20.
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