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AUD/JPY turning back towards hourly 100SMA

FXStreet (Guatemala) - AUD/JPY is trading at 101.64, having posted a daily high at 101.84 and low at 101.55.

AUD/JPY is back to the base of the current shirt term range that has seen the pair spike through 101.80 and reverse back down to test 101.60 while AUD/USD is pressing on the 0.86 handle ahead of the RBA’s Forex transitions coming up a little later.

The events today have been around the FOMC that although didn’t give us anything decisive to work from, it is quite apparent that members are cautioning around a less inflationary outlook further ahead and that has been supportive to stocks and has dampened the greenback to some extent. Nevertheless, the cross here is starting to mark out an aggressive bearish turn and could be headed towards support at 101.52 (Hourly 100 SMA) and 101.48 (Daily Classic S1).

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