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20 Dec 2013
AUD/JPY hits weekly highs after PBoC move
FXstreet.com (Córdoba) - The AUD/JPY broke above 92.40 and rose to 92.70 reaching the strongest level since last Friday following moves by the Chinese central bank. The Aussie and the Kiwi rose in the market trimming weekly losses.
The pair is extending its recovery after hitting on Wednesday at 91.02, a 10-week low and has erased weekly losses. Currently trades at 92.60, up 0.37% from today's opening price.
Technical outlook for the AUD/JPY
The pair is holding bullish momentum following a strong reversal that started on Wednesday according to the FXMarketAlerts Team: “Choppy trade seen last session but managed to close at the day's high and keeping the bounce from 91.08 low in play and further push above 92.60 hurdle will unlease another round of strong buying to 92.95 ahead of 93.28”. The FXMarket Alerts Team points out that under 91.70, “support will jeopardise current strength”.
The pair is extending its recovery after hitting on Wednesday at 91.02, a 10-week low and has erased weekly losses. Currently trades at 92.60, up 0.37% from today's opening price.
Technical outlook for the AUD/JPY
The pair is holding bullish momentum following a strong reversal that started on Wednesday according to the FXMarketAlerts Team: “Choppy trade seen last session but managed to close at the day's high and keeping the bounce from 91.08 low in play and further push above 92.60 hurdle will unlease another round of strong buying to 92.95 ahead of 93.28”. The FXMarket Alerts Team points out that under 91.70, “support will jeopardise current strength”.