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AUD/JPY trading between key breakout points

FXStreet (Barcelona) - AUD/JPY is trading at 95.33, up 0.01% on the day, having posted a daily high at 95.57 and low at 95.22.

AUD/JPY has been a choppy trade from the decent of August highs through 98.60 onto recent lows on 95.00. The move is steep and decisive and a break of 95 allows follow through onto 94, the August low. The volatility of the pair can be attributed to the carry in markets which are turning from the search for yield and risk-off in the flick of a switch in a short period of time, while there are conflicting ideas around Japans policy on the weakness of their currency. On that note, we are waiting the two Central banks and while we do not expect any shifts in language or design, it is worth noting that if anything, it might be the BoJ that gives us something in respect of their statement around the weakness of their currency. Any note to that effect may spur some volatility in the pair and favour the Yen should we be reminded that weakness in the currency was welcomed. The scheduled time has been put back between one to one and half hours due to Kuroda's appearance in parliament.

AUD/JPY noteworthy levels

Current price is 95.33, with resistance ahead at 95.44 (Hourly 100 SMA), and 95.58 (Yesterday's High). Next support to the downside can be found at 95.31 (Daily Classic PP) and 95.18, 94.80 and 94.00.

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