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15 Dec 2014
AUD/JPY on the bid reversing the opening bear trend
FXStreet (Guatemala) - AUD/JPY is trading at 97.70, down -0.22% on the day, having posted a daily high at 97.94 and low at 96.84.
AUD/JPY has recovered most of its losses on the sell the fact routine that took hold of markets at the open of Asia today post Abe’s victory.
The Yen was bid across the board as liquidity started to come in, perhaps on the fact that risk aversion initially took a hold of markets but ultimately, the outcome of the elections in Japan are sighted to be negative for the Yen as Abenomics continue to weigh on the currency into the close for the year.
Ahead this week we have the FOMC and this may be the boost that the Aussie bulls are looking for should there be any dovishness from the meeting and press conference and that may be a good reason to be long of the cross. 98.80 could be tough resistance on the bid while 99.20 may be last barrier ahead of 100.00 again.
AUD/JPY has recovered most of its losses on the sell the fact routine that took hold of markets at the open of Asia today post Abe’s victory.
The Yen was bid across the board as liquidity started to come in, perhaps on the fact that risk aversion initially took a hold of markets but ultimately, the outcome of the elections in Japan are sighted to be negative for the Yen as Abenomics continue to weigh on the currency into the close for the year.
Ahead this week we have the FOMC and this may be the boost that the Aussie bulls are looking for should there be any dovishness from the meeting and press conference and that may be a good reason to be long of the cross. 98.80 could be tough resistance on the bid while 99.20 may be last barrier ahead of 100.00 again.