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Wrecked AUD/JPY trying to recover, but 96.00 pivot is still a dream

FXStreet (Moscow) - AUD/JPY has opened at 95.52 in Asia and climbed towards current intraday high at 95.83 on the back of JPY weakening across the board

Thank you, weaker JPY!

AUD/JPY is a a rare Aussie cross where the Australian currency is not falling down this morning. On Thursday AUD/JPY lost more than 100 pips and closed deeply below the pivotal level of 96.00 on the back of Aussie sell-off and JPY growth. Now the sentiments towards the Japanese currency has reversed as Japanese health minister Yasuhisa Shiozaki told the reporters that there is no intention to postpone GPIF report. Funny, but it was she who signaled there’s no hurry to reform the country’s Government Pension Investment Fund and thus triggered JPY sell-off yesterday. From the technical point of view, the upside may be limited by Asian high at 95.83, though once it is broken, the cross might rush towards 96.00/08 (Wednesday’s low). The support comes at 95.40 (yesterday’s low).

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