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9 Sep 2013
AUD/JPY hits fresh 7-week highs above 92.00
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 91.80 off recent 7-week highs at 92.06 printed on the back of massive Yen weakness following Tokyo winning bid for the 2020 Olympics and Nikkei index opening above the 14200 points up +2.6%.
AUD/JPY still looking bullish
“Crosses like AUD/JPY and GBP/JPY still look bullish,” said FXWW founder Sean Lee. The cross is up +0.84% so far for the week, with Japan GDP just released in line with expectations at +3.8% on yearly basis, which supports an increase in sale taxes, and current account also in line with estimates.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session fresh 7-week highs 92.06, followed by July 03 highs at 92.46, and July 24 highs at 92.73. To the downside, closest support lies at Friday's highs 91.70, followed by Thur/Wed's highs at 91.59, and Thursday's lows at 90.98.
AUD/JPY still looking bullish
“Crosses like AUD/JPY and GBP/JPY still look bullish,” said FXWW founder Sean Lee. The cross is up +0.84% so far for the week, with Japan GDP just released in line with expectations at +3.8% on yearly basis, which supports an increase in sale taxes, and current account also in line with estimates.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session fresh 7-week highs 92.06, followed by July 03 highs at 92.46, and July 24 highs at 92.73. To the downside, closest support lies at Friday's highs 91.70, followed by Thur/Wed's highs at 91.59, and Thursday's lows at 90.98.