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Forex: AUD/JPY remains above 98.00

FXstreet.com (Córdoba) - The AUD/JPY remains sideways trading near multi-year highs and above 98.00. On Wednesday closed lower, erasing Tuesday's gains. The Aussie started the Asian session holding above 99.00, weakened on European hours and bottomed at 97.96 after Wall Street opening bell. It traded below 98.00 just a few minutes as it rebounded to 98.50.

It was the third time since March 8 that the AUD/JPY reached momentarily levels under 98.00 but once again it was rejected. The pair remains moving sideways with support at 98.00 and resistance at 99.40 and 99.99, currently holding a bearish bias in the short term.

The Yen was among the best performers on Wednesday while the Aussie lost ground across the board as investors took profits on the recent rally and bought safe-haven assets.

Forex: EUR/JPY stalls above 120.00 for the moment

EUR/JPY is last at 120.57, session lows, retracing from NY session highs at 120.80, having recovered off fresh March lows at 119.92 printed early in NY trade, slightly below previous weekly lows Monday at 120.00 round, on the back of EU's chairman words. Early in London trade Bloomberg reported on a document saying Cyprus bailout is not a template for further EZ banking crisis, the supposed misinterpretation of EU's chairman words that prompted Monday's cascade.
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