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AUD/JPY basing on 102 handle after huge swings

FXStreet (Guatemala) - AUD/JPY is trading at 102.06, up 0.23% on the day, having posted a daily high at 102.87 and low at 101.49.

AUD/JPY has been a roller coaster at the end of this weeks session, with gains up to 102.80/90 sold off back to test 102 the figure. China was the main event supporting the Aussie when 1 year lending rates were cut by 0.4 and the 1 year deposit rates by 0.25 to 2.75% to help bolster the Chinese economy.

The pair then came off with USD/JPY drifting to the downside and analysts at TD Securities suggested to look for short-term support at 101.45/50 through the early part of next week. “We think 98.60/70 is solid support at the moment”.

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