AUD/JPY dips to fresh 3-week lows but holds above 87.00

FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 87.15, off recent fresh 3-week lows printed in late NY session at 86.92, on the back of massive Yen strength while Aussie has remained more stable.

AUD/JPY still sliding

“Asian currencies are continuing to slide against the USD and stock-markets are uniformly in the red,” said FXWW founder Sean Lee, adding: “This risk-aversion sentiment is encouraging sellers of AUD/JPY, now over 1.1% lower on the session. The EUR/USD and cable are remaining remarkably calm despite the movements in other markets.” AUD/JPY is down more than -2% for the week thus far.

AUD/JPY key technical levels

Immediate resistance to the upside for AUD/JPY shows at August 22 lows 87.38, followed by August 20 lows at 87.58, and August 21 lows at 87.62. To the downside, closest support lies at recent session lows 87.08, followed by August 08 lows at 87.03, and mentioned fresh 3-week lows at 86.92.

Aug 28, 2013

EUR/AUD finds double top ahead of 1.50

EUR/AUD prints 0.65% gains accumulated so far as Tuesday’s trading session prepares for closing. The Aussie, risk barometer for geopolitical crisis was slammed throughout the journey, facilitating bulls to push the euro higher ahead of plethora of data due in the Euro-zone later this week.

RBA's Edwards reminds AUD bulls not to mess with bear trend

Following last week's article titled 'Hard to build sustainable AUD bullish case' in which a dead end road to prevent further AUD depreciation was argued - on the basis of the outlook for the cash rate and the AUD being 'intertwined' - the WSJ published an interview earlier Tuesday with RBA board member John Edwards, saying the Aussie dollar remains still too high, which serves as a nice reminder of the RBA line of thinking.