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4 Apr 2014
AUD/JPY continues near 96.00
FXStreet (Córdoba) - The AUD/JPY fell slightly on Thursday weakened by a decline in the Aussie and posted the first daily loss in two weeks. Despite ending lower at 95.93, price is moving in ranges near the highs and the 96.00 mark.
During the American session the pair hit a fresh 10-month high at 96.13 but then pulled back to 95.75 and bounced. Currently trades around 95.92/96, steady ahead of a quiet Asian session.
The rally from 91.20, that started the week of March 17 appears to be losing steam after gaining almost 500 pips in 20 days. But the trend continues to favor the upside. Momentum is still bullish considering that all recent retracement had been limited and followed by upside movements.
During the American session the pair hit a fresh 10-month high at 96.13 but then pulled back to 95.75 and bounced. Currently trades around 95.92/96, steady ahead of a quiet Asian session.
The rally from 91.20, that started the week of March 17 appears to be losing steam after gaining almost 500 pips in 20 days. But the trend continues to favor the upside. Momentum is still bullish considering that all recent retracement had been limited and followed by upside movements.