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29 Jun 2015
AUD/JPY supply coming back in to play
FXStreet (Guatemala) - AUD/JPY is currently trading at 94.29 with a high of 94.73 and low of 92.67.
AUD/JPY, like other Yen crosses, is yet to close the gap left on the charts at the Asian open on the back of the Greek debacle. The Greeks have called for a referendum on the euro and this is due to take place on Sunday. A lot can happen in a week in politics and the EU leaders are urging the Greeks to come back to the negotiating table fearing the worst, as a Grexit could play havoc on global financial markets and the implications for the eurozone could be a complete catastrophe, which all supports the yen as a safe haven currency.
Gold has also seen a lift on the same safe haven status and the Aussie was playing on the bid vs the greenback with stops triggered overnight, now meeting a little supply here sub the 0.77 handle. AUD/JPY is technically overstretched on the upside with 0.7680 as first support on a round turn ahead of 0.7600/40 territory and June lows of 0.7586 and 0.7531 and 2015 lows.
AUD/JPY, like other Yen crosses, is yet to close the gap left on the charts at the Asian open on the back of the Greek debacle. The Greeks have called for a referendum on the euro and this is due to take place on Sunday. A lot can happen in a week in politics and the EU leaders are urging the Greeks to come back to the negotiating table fearing the worst, as a Grexit could play havoc on global financial markets and the implications for the eurozone could be a complete catastrophe, which all supports the yen as a safe haven currency.
Gold has also seen a lift on the same safe haven status and the Aussie was playing on the bid vs the greenback with stops triggered overnight, now meeting a little supply here sub the 0.77 handle. AUD/JPY is technically overstretched on the upside with 0.7680 as first support on a round turn ahead of 0.7600/40 territory and June lows of 0.7586 and 0.7531 and 2015 lows.