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AUD/JPY testing 94.20

FXStreet (Córdoba) - AUD/JPY is rising modestly on Tuesday and continues to test an important short term resistance located around 94.20 (Oct 20 high).

Yesterday during the American session the pair closed a bullish gap and on Asian hours moved sideways, amid RBA minutes and Chinese economic data. Bottomed at 93.52, the lowest since Friday, but then bounced to the upside.

During the last few hours the pair has remains steady, testing the 94.20 area amid risk appetite across financial markets. The strength of the yen limited the upside. While AUD/USD trades at daily highs above 0.8800, USD/JPY is losing ground, below 107.00.

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