FXStreet (Guatemala) – AUD/JPY is currently trading at 93.92 with a high of 93.94 and a low of 92.67.
AUSD/JPY is attempting to recovery the bearish gap on the charts from the open this Monday post the Greek parliamentary decision to hold a referendum for the 5th July as the ECB has decided not to increase emergency funding to Greek banks. Meanwhile Greek banks are due to be closed until 7th July and Athens stock markets will be closed tonight on the open. However, Eurozone leaders are urging Greece to stay at the negotiating table and respect the European rules.
Safe haven flows are supporting the Yen but we have had some demand in Tokyo post comments from BoJ’s Kuroda that global economic uncertainty could jeopardise the Central Bank’s attempts to meet its inflation target of 2 percent target next year, meaning a potentially weaker Yen for longer.
AUD/JPY is technically well down vs the bullish trend that had formed since below 91.00 having dropped through 94.65 key support today. There is some recovery to do in order to get the bulls back on track and RSI 14 at 44.65 offers some room to the downside yet before reading oversold.
(Market News Provided by FXstreet)