17 Mar 2015
AUD/JPY: Consolidates the Feb based correction
FXStreet (Guatemala) - AUD/JPY is currently trading at 92.56 with a high of 92.81 and a low of 92.41.
AUD/JPY trades below the pivot as the RBA minutes confirmed to markets that it was a close call as to whether to cut or not, and a data dependant Central Bank will be leaving the door wide open for additional easing if the economic data doesn't hold up otherwise.
Technically, the cross of course depends upon the Yen and currently the greenback has given some room back to the Japanese currency that has been otherwise offered up to key resistance at 122.30 and the 15 year downtrend. With failures here, the Yen has pulled back some ground in the cross and consolidates between 91.80 and 93.60 after the rally from the Feb lows of 89.37.
AUD/JPY trades below the pivot as the RBA minutes confirmed to markets that it was a close call as to whether to cut or not, and a data dependant Central Bank will be leaving the door wide open for additional easing if the economic data doesn't hold up otherwise.
Technically, the cross of course depends upon the Yen and currently the greenback has given some room back to the Japanese currency that has been otherwise offered up to key resistance at 122.30 and the 15 year downtrend. With failures here, the Yen has pulled back some ground in the cross and consolidates between 91.80 and 93.60 after the rally from the Feb lows of 89.37.