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12 Jun 2013
Flash: AUD/JPY with risk of deeper falls to 88.65 - ANZ
FXstreet.com (Barcelona) - On the back of an aggressive drop by the AUD/JPY, Tim Riddell, head of research at ANZ, thinks the impulsive acceleration risks now a deeper fall to 88.65 or even the 86.25 should not be ignored.
According to the strategist, initial resistance is found at 93.10-25 area. A break above would confirm higher targets towards 94.50, and "would add weight to the suggestion of an early return to the trend of JPY weakness" Riddell adds.
According to the strategist, initial resistance is found at 93.10-25 area. A break above would confirm higher targets towards 94.50, and "would add weight to the suggestion of an early return to the trend of JPY weakness" Riddell adds.