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22 Mar 2013
Forex: AUD/JPY struggling to hold above 99.00
FXstreet.com (Barcelona) - AUD/JPY is last at 99.03 near session lows, off yesterday's lows at 98.67, with both AUD/USD and USD/JPY also near session lows, little changed for last 10 hours, and the upside limited so far. Nikkei index is down -1.32% for the day, following yesterday's worst Japan trade deficit on record.
The cross is slightly in the negative for the week, retracing from Wednesday's weekly highs at 99.78, just few pips shy of last week fresh 4.5-year highs at 99.98. RBA assistant Malcom Edey is about to speak in Melbourne, and this could bring some volatility to Aussie. Australian ASX index is higher by +0.28% in the day, while Iron ore holds above the $130 mark.
Immediate support to the downside for AUD/JPY lies at current level as past Friday's lows 98.98, followed by yesterday's/March 13 lows at 98.67/55, and March 12 lows at 98.46. To the upside, closest resistance shows at recent session highs 99.30, followed by Tuesday's highs at 99.46, and Wednesday's weekly highs at 99.80.
The cross is slightly in the negative for the week, retracing from Wednesday's weekly highs at 99.78, just few pips shy of last week fresh 4.5-year highs at 99.98. RBA assistant Malcom Edey is about to speak in Melbourne, and this could bring some volatility to Aussie. Australian ASX index is higher by +0.28% in the day, while Iron ore holds above the $130 mark.
Immediate support to the downside for AUD/JPY lies at current level as past Friday's lows 98.98, followed by yesterday's/March 13 lows at 98.67/55, and March 12 lows at 98.46. To the upside, closest resistance shows at recent session highs 99.30, followed by Tuesday's highs at 99.46, and Wednesday's weekly highs at 99.80.