AUD/JPY on the bids, but capped below 87 handle
|The recovery in AUD/JPY cross from Friday’s NY lows remains capped below 87 handle, as the bulls from moderate risk-aversion persisting across the financial markets so far this session.
As a result, the safe-haven yen continues to extend its strength against most of its majors, offsetting somewhat the gains witnessed in the AUD/USD pair, leaving the cross largely flat-lined in a 25-pips narrow range. The Aussie benefits from a broadly weaker greenback and upbeat Chinese home prices data released over the weekend.
Also, low volumes and minimal volatile on the back of a Japanese national holiday, adds to the side-ways movement seen in AUD/JPY. Focus now shifts towards the Fed speaks and RBA’s monetary policy minutes due to be reported over the next 24 hours.
Technical Levels
Higher side: 86.98/87 (5-DMA/ zero figure), 87.50/53 (psychological levels/ Mar 15 high), 88.17/23 (Feb 15 & 16 high)
Lower side: 86.63/56 (20 & 50-DMA), 85.85/80 (100-DMA/ Feb-end lows), 85.50 (psychological levels)
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