AUD/JPY constrained bellow 89.00 on Yen strength

FXstreet.com (Barcelona) – The AUD/JPY foreign exchange cross rate is last trading near session lows at 88.90, off recent NY session and weekly highs at 89.28, dragged down on Yen strength and equities selling off ahead of the NY close.

AUD/JPY still validly bullish

For IFRMarkets analysts the AUD/JPY is still looking bullish in daily charts with latest “oversold bullish divergence bottom scenario” still valid, they said, looking for a close above 89.55 for confirmation, “to gain traction for a run to the Aug peak and 50-DMA, both at 90.12 now,” IFRMarkets added. The cross is about 10 pips lower for …read more