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Forex: AUD/JPY prints double high above 99.50

For once in a while, AUD/JPY has spiked to the upside near fresh 4.5-year highs, and it has not been because of Yen weakness. The cross printed fresh session highs at 99.54, few pips shy of previous weekly and 4.5-year Tuesday highs, on impressive Aussie jobs data, showing best monthly result since year 2000, even before the Sydney Olympics.

Not only AUD/JPY has jumped without Yen weakness, but also with Yen strength, as USD/JPY is currently printing fresh session lows around the 95.70 level, with Nikkei index retracing from opening session highs, still in the positive a +0.32% higher for the day. The move higher in AUD/JPY has come from Aussie strength alone across the board, lifting almost 100 pips post-data, or a +0.77% increase, last at 1.0371 AUD/USD.

Immediate resistance to the upside for AUD/JPY shows at mentioned double weekly high 99.53/7, followed by July 01 2008 lows at 100.10, and June 12 2008 lows at 101.42. To the downside, nearest term support lies at current levels as yesterday's highs 99.20, followed by Friday's highs 99.12, and yesterday's lows at 98.54.

Curious facts about the eye-popping Aus jobs

After the supper strong Australian jobs number, a few market commentators have some interesting post data facts that helps to understand the ongoing 'astonishment' after the jobs publication.
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Forex: EUR/JPY puts pressure on 123.80/124.15 proven demand

After being faced with strong area of monthly supply - see April 2010 - at 125.00/128.00, the EUR/JPY is finding it hard to hold ground above that area, with this week's double failure above it bringing into play the area of demand 124.15-123.80, where a first test was timidly rejected on Wednesday, only to be re-threatened again now.
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