The cross is up some +1.38% for the week, now facing some profits taking coming from Aussie longs, on the back of falling equities, making SP500 closing about even with a +0.04% advance for the day, leaving a hanging man pattern in its daily candle chart, when at one point it was printing fresh 1-month highs. RSI 14 daily for AUD/JPY cross shows a reading at 75.52 in overbought area, with a bearish divergence with respect to previous Nov highs.
Immediate resistance to the upside for AUD/JPY shows at mentioned NY session fresh 8-month highs at 88.05, followed by March 19 highs at 88.64, and April 28 2011 highs at 89.60. To the downside, closest support lies at Wednesday's NY session lows 87.34, followed by yesterday's lows at 86.89, and Friday’s highs at 86.70.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.