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16 Oct 2014
AUD/JPY rebounds after falling to 7-month lows
FXStreet (Córdoba) - AUD/JPY broke below 92.15 (October 15 low) and fell to 91.73, reaching the lowest price since March 17. Afterward the pair rebounded and managed to rise back above 92.00.
Yesterday, on a volatile day, finished with modest gains after making a recovery during the second half of the American session. But the bounced was short lived and today on European hours turned to the downside, falling 150 pips and bottomed around 91.70/80. Currently trades around 92.40/50, a hundred pips below the level it opened but far from the lows.
The pair is headed toward the fourth weekly decline in a row weakened by the rise of the yen across the board amid risk aversion. Wall Street opened today in negative but moving to the upside, giving some support to the pair.
Yesterday, on a volatile day, finished with modest gains after making a recovery during the second half of the American session. But the bounced was short lived and today on European hours turned to the downside, falling 150 pips and bottomed around 91.70/80. Currently trades around 92.40/50, a hundred pips below the level it opened but far from the lows.
The pair is headed toward the fourth weekly decline in a row weakened by the rise of the yen across the board amid risk aversion. Wall Street opened today in negative but moving to the upside, giving some support to the pair.