13 Feb 2015
AUD/JPY steady above 92.00
FXStreet (Córdoba) - AUD/JPY is posting marginal gains on Friday, recovering modestly after falling on Thursday to 91.33. The pair is trading at 92.20/30 after being unable to break the 92.35/40 barrier, that was tested repeatedly during the day.
Despite the recovery the pair is about to end the week 70 pips below the level it had seven days ago, weakened by a stronger yen and the aussie’s slide on Thursday following the Australian jobs report.
AUD/JPY outlook
After falling sharply on January the pair stabilized on February but the dominant trend is still bearish. So far, the recovery could be characterized as a bullish correction. A consolidation on top of 93.00 could open the doors for a continuation in the recovery. On the opposite direction, a daily close under 90.70 would expose 90.00 and 2015 lows.
Despite the recovery the pair is about to end the week 70 pips below the level it had seven days ago, weakened by a stronger yen and the aussie’s slide on Thursday following the Australian jobs report.
AUD/JPY outlook
After falling sharply on January the pair stabilized on February but the dominant trend is still bearish. So far, the recovery could be characterized as a bullish correction. A consolidation on top of 93.00 could open the doors for a continuation in the recovery. On the opposite direction, a daily close under 90.70 would expose 90.00 and 2015 lows.