Back
2 Mar 2015
AUD/JPY: Bears to test 93.00 again ahead of RBA?
FXStreet (Guatemala) - AUD/JPY is currently trading at 93.39 with a high of 93.60 and a low of 93.00.
AUD/JPY has been on the bid with some weakness in the greenback on the back of some soft data today. However, the US dollar has stabilised, sent the Aussie lower again on a short lived bounce in a broadly bearish trend ahead of the looming RBA decision later today.
If there is not cut in March, the market will likely price in one to come in the next quarter and the RBA will likely continue to state that the Aussie is fundamentally overvalued still. 93.00 is holding, where the price was tested before a minor recovery. Below this support, last week's lows come into the picture at 92.70.
AUD/JPY has been on the bid with some weakness in the greenback on the back of some soft data today. However, the US dollar has stabilised, sent the Aussie lower again on a short lived bounce in a broadly bearish trend ahead of the looming RBA decision later today.
If there is not cut in March, the market will likely price in one to come in the next quarter and the RBA will likely continue to state that the Aussie is fundamentally overvalued still. 93.00 is holding, where the price was tested before a minor recovery. Below this support, last week's lows come into the picture at 92.70.