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AUD/JPY testing 101.40 support on continued supply

FXStreet (Guatemala) - AUD/JPY is trading at 101.51, down -0.33% on the day, having posted a daily high at 102.04 and low at 101.39.

AUD/JPY has tested the support at 101.40 with the USD/JPY dropping a significant amount of pips after the release of Kuroda’s speech. The Yen has appreciated across the board while what was surprising is that the recent fall back into recession has not been mentioned by the governor and instead the speech came across very bullish in light of the recent GDP seasonally adjusted Q2 y/y at -7.1% and then Q3 preliminary y/y -1.6% numbers.

AUD/JPY noteworthy levels

Spot is presently trading at 101.52, and next resistance can be seen at 101.57 (Hourly 200 SMA), 101.62 (Daily Classic S1), 101.82 and 101.88 (Hourly 100 SMA). Next support to the downside can be found at 101.43, 101.39 (Low), 101.39 (Daily Classic S2), 101.24 (Weekly Classic S1) and 100.96 (Daily Classic S3).

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