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AUD/JPY testing the 97 handle

FXStreet (Guatemala) - AUD/JPY is trading at 96.93, up 0.12% on the day, having posted a daily high at 97.00 and low at 96.79.

Analysts at TD Securities explained that the AUD/JPY has been in a one-way street since the early August rebound from the 200-day MA in the low 94 area. “Gains have extended through major resistance at 96.50. Short-term trend momentum signals are positive and will underpin further gains in the AUD here in the nearer-term at least. We think the low 98 area is a reasonable near-term target (retracement resistance and possible channel top)”.

AUD/JPY hourly levels

Current price is 96.97, with resistance ahead at 97.06 (Daily Classic R1) and 97.40 (Weekly Classic R1). Support 96.90, 96.80 and 96.50.

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