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AUD/JPY maintains gains above 89.00 zone

FXstreet.com (Chicago) – AUD/JPY protects last Friday’s advancements and continues trading above 89.00 zone. The Nikkei reached 0.50% gains to quickly retrace to 0.25% potentially fueled by Fed’s tapering concerns on weak housing market data made public last week.

It is nothing new

Japan released its corporate service price growth at 0.4% matching expectations and previous results. Asian markets trade stronger as weaker-than-expected results in the US economic imply inconclusive conclusions for Fed’s tapering.

AUD/JPY Technical Levels

Technically speaking, the pair trades at 89.11 below immediate support at 89.16 (August 4th highs) and facing 88.54 (July 30th highs) and 88.91 (August 1st highs). …read more