9 Dec 2014
AUD/JPY drops to 1-month lows
FXStreet (Córdoba) - The aussie trimmed losses against the yen during the last hours after falling to 98.78, the lowest price since November 07. AUD/JPY broke below 99.90 on Asian hours and weakened considerably.
The pair bottomed at 98.80 , 250 pips below Friday’s highs, and then rebounded. Price managed to rise back above 99.00 and climbed to 99.55. currently trades at 99.42, down 0.60% for the day.
AUD/JPY technical outlook
Today the pair is breaking an important short term support and consolidating below 100.00, breaking a 2-week trading range, between 99.90 and 101.40; signaling a continuation of the bearish correction from 102.84 (November high).
The pair bottomed at 98.80 , 250 pips below Friday’s highs, and then rebounded. Price managed to rise back above 99.00 and climbed to 99.55. currently trades at 99.42, down 0.60% for the day.
AUD/JPY technical outlook
Today the pair is breaking an important short term support and consolidating below 100.00, breaking a 2-week trading range, between 99.90 and 101.40; signaling a continuation of the bearish correction from 102.84 (November high).