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1 Jun 2015
AUD/JPY holds above 94.50
FXStreet (Córdoba) - AUD/JPY continues to move sideways, consolidating around last week lows. Currently trades at 94.90/95, around Friday’s closing price.
AUD/JPY in a range
Last Thursday the pair bottomed at 94.57, the lowest level in two weeks and then attempted to recover but remains limited. Since Friday, price is moving sideways, with support at 94.60 and resistance below 95.20.
The outlook remains bearish but in the short term AUD/JPY is consolidating, after being unable to rise despite the rally of USD/JPY to fresh multi-year highs.
Traders are waiting for the Reserve Bank of Australia decision that will take place on Tuesday at 04:30 GMT. Rates are expected to remain on hold. The statement will likely impact on AUD crosses.
AUD/JPY in a range
Last Thursday the pair bottomed at 94.57, the lowest level in two weeks and then attempted to recover but remains limited. Since Friday, price is moving sideways, with support at 94.60 and resistance below 95.20.
The outlook remains bearish but in the short term AUD/JPY is consolidating, after being unable to rise despite the rally of USD/JPY to fresh multi-year highs.
Traders are waiting for the Reserve Bank of Australia decision that will take place on Tuesday at 04:30 GMT. Rates are expected to remain on hold. The statement will likely impact on AUD crosses.