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AUD/JPY holds above 94.50

FXStreet (Córdoba) - The AUD/JPY fell modestly on Monday but still managed to hold far from Friday’s lows, when it dropped to 93.91, hitting the lowest price since May 29.

During Monday the pair peaked at 94.84 and then pulled back finding support above 94.50. During the last hours it has been consolidating around 94.60, holding around Friday’s highs.

On a wider perspective the AUD/JPY still holds a bearish bias but it has been able to move off monthly lows. To the upside a potential recovery could face resistance between 94.85 and 95.00. To the downside, support levels might be located at 94.50 (daily low) and the area around 94.00.

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