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AUD/JPY caught up in strong down trend amongst other forces at work

FXStreet (Guatemala) - AUD/JPY is trading at 100.64, down -1.18% on the day, having posted a daily high at 102.04 and low at 100.52.

EUR/AUD rallied on the back of the decent German IFO numbers and that has added pressure to AUD/JPY that was already on the offer at the start of the week. The pair now presses on down through the 101 handle and tests 100.60/40 which should be a tough trough to crack ahead of 100.15 and 100.00.

Else where, USD/JPY was offered overnight in Asia (BoJ minutes and Kuroda on the wires) and lost the 118 handle down to 117.80 in the main but demand was picked up again from a low of 117.69 and we trade back at 118 the figure currently which should add some support to the cross also. However, AUD/USD continues to be a drag, again on the back of the EUR/AUD rally on Europe.

AUD/JPY noteworthy levels

Spot is presently trading at 100.64, and next resistance can be seen at 100.96 (Daily Classic S3), 101.20 (Hourly 20 EMA), 101.24 (Weekly Classic S1), 101.39 (Daily Classic S2) and 101.60 (Hourly 200 SMA). Support below can be found at 100.52 (Daily Low), 100.43 (Weekly Classic S2), 100.15, 99.90 (Daily 20 SMA), 99.62 (Weekly Classic S3) and 96.58 (Daily 100 SMA).

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