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AUD/JPY taking a hit supported at Sep highs

FXStreet (Guatemala) - AUD/JPY is trading at 98.48, down -0.13% on the day, having posted a daily high at 98.64 and low at 98.45.

AUD/JPY is suffering a significant number of pips on the back of business from the 99.60 region that caved in on supply. The pair has been through three critical levels before finally finding some bargain hunters at 98.20 and September highs. There are a number of forces at work in a volatile period towards the end of this year for the pair and throughout the FX space.

The theme with the BoJ is one of aggressive QE while with the AUD, risk sentiment is leaving the commodity currencies out dry and it has succumbed to a battering through the greenback while the USD/JPY is taking a rest bite from being slightly overstretched although still oscillates in bullish territory. We will have plenty to work from today with the domestic jobs data for Australia before we meet the Nonfarm payrolls data at the end of the week’s session.

AUD/JPY noteworthy levels

Current price is 98.49, with resistance ahead at 98.51 (Hourly 100 SMA), 98.63 (Daily Classic S1) and 98.76 (Hourly 20 EMA). Next support to the downside can be found at 98.45, 98.23, 97.94 (Daily Classic S2), 97.59 (Daily Classic S3) and
97.49 (Weekly Classic PP).

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