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18 Jun 2013
AUD/JPY dealing around key 90.50 level
AUD/JPY is last at 90.52, near session highs, and about the same price it was almost 2 weeks ago back in June 07, when the cross hit rock bottom after a massive sell-off coming from June 04 97.40 highs, extending the decline started by Aprill 11 above 105.
7 trading days at around same level
The cross bounced from mentioned level to past Monday's weekly highs at 93.83, then fell again to fresh 5-month lows past Thursday at 88.90, increasing volatility on the way, to around 200 pips per day on average for last 14 trading days, close to 3-year highs in daily volatility.
This means that while in last 7 trading days price has been unchanged around the current 90.50 mark, the 7 days before that, price fell almost a -9%, which would mean there has been some consolidation in these last 7 days after previous 7 days sell-off.
Key technical levels
Immediate support to the downside for AUD/JPY lies at recent session lows 90.11, followed by June 11 lows at 89.99, and June 13 fresh 5-month lows at 88.89. To the upside, closest resistance shows at current levels as June 07 lows 90.50, followed by yesterday's weekly highs at 91.56, and Friday's highs at 91.90.
7 trading days at around same level
The cross bounced from mentioned level to past Monday's weekly highs at 93.83, then fell again to fresh 5-month lows past Thursday at 88.90, increasing volatility on the way, to around 200 pips per day on average for last 14 trading days, close to 3-year highs in daily volatility.
This means that while in last 7 trading days price has been unchanged around the current 90.50 mark, the 7 days before that, price fell almost a -9%, which would mean there has been some consolidation in these last 7 days after previous 7 days sell-off.
Key technical levels
Immediate support to the downside for AUD/JPY lies at recent session lows 90.11, followed by June 11 lows at 89.99, and June 13 fresh 5-month lows at 88.89. To the upside, closest resistance shows at current levels as June 07 lows 90.50, followed by yesterday's weekly highs at 91.56, and Friday's highs at 91.90.