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AUD/JPY rises to 6-day high

FXStreet (Córdoba) - The pair opened the week with a bullish gap and climbed to 94.20, reaching the strongest level since last Tuesday. The 94.20 area capped the upside during the Asian session, the level was tested several times but the aussie was unable to break it.

On European hours, amid risk aversion, the yen gained momentum across the board and pushed AUD/JPY to the downside. The pair closed the gap and bottomed at 93.56. From there bounced to the upside and after Wall Street opening bell rose further approaching 94.00.

Currently trades at 93.98, 40 pips above the level it closed on Friday as it continues to recover after falling on Thursday to 91.75, the lowest price in seven months.

USD/CHF bounced at 0.9430 to trade back above 0.9450... but it failed

USD/CHF fell from daily highs around 0.9475 earlier in the day to find support at 0.9430 where the pair found some buying interest as the greenback is trading in the defensive. However, the pair's rebound failed to hold it above 0.9450 and now the pair is pricing back at lows.
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The eFXnews team comment that Morgan Stanley expects the current USD bearish de-positioning to change into USD supportive repatriation.
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