AUD/JPY rejected from above 86.00

By FXStreet FXStreet (Córdoba) – AUD/JPY is falling on Tuesday after reaching earlier a 2-week high. So far the correction has been limited.

AUD/JPY back to 85.40

During the Asian session the pair rose to 86.31, hitting the strongest level since September 1 after the release of the minutes from the latest meeting of the Reserve Bank of Australia. The document from the RBA focused on international developments, particular from China.

Price failed to hold above 86.00 and retreated. After the Bank of Japan decision to leave monetary policy unchanged dropped further and bottomed at 84.92. From there bounced modestly to the upside and during the last hours it has remained steady hovering around 85.20.

AUD/JPY technical levels

To the downside, the key short term support lies at 84.90/95 (Sept 14, 15 low), 84.75 (Sept 11 low) and 84.40. On the opposite direction, resistance could be located at 85.40 (American session high), 85.90 and 86.30 (daily high).
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Source:: FX Street