AUD/JPY makes strong reversal from 10-month highs

FXStreet (Córdoba) - The AUD/JPY jumped to 96.50 after NFP reaching a fresh 10-month highs but then bounced sharply to the downside, erasing all gains. Near Wall Street close trades at 95.85/90, at the same price level it had at the beginning of the day. A stronger Yen after the employment data in the US, pushed the pair to the downside.

Correction signals for the AUD/JPY?

The price is about to finish flat, far from the highs, with a doji candlestick formation that could be suggesting some consolidation or downside correction ahead. The retreated from the highs found support at 95.80.

Despite the retreated the AUD/JPY is rising for the third week in a row and posting the highest weekly close since June 2013.