FXStreet (Guatemala) – AUD/JPY is currently trading at 91.84 with a high of 92.42 and and a low of 90.94. AUD/JPY bulls struggle with the upside in the aftermath of the Greek referendum. Yen continues to pay out its safe haven roll.
AUD/JPY fundamentals
There is a little bit of stability in the market now as the after the Greek referendum trade has taken place. Global Markets are taking some peace of mind that EU leaders and IMF’s Largarde, are seeking to try and keep Greece in the Eurozone and avoid a Grexit. Merkel was reported saying that the door remains open to talks with Greece and added that new proposal should be available this week. Meanwhile, the Governing Council of the ECB is determined to use all the instruments available within its mandate and, for now, has decided to leave the Emergency Assistance Liquidity (ELA) ceiling for Greek banks unchanged at €89 billion.
Yanis Varoufakis resigned new finance minister, Euclid Tsaklotos, has been appointed to take up his new position at the negotiating table. While there are on going uncertainties, the Yen should remain favoured and the cross subject t downside pressures.
AUD/JPY technically heading for Jan 2015 lows
AUD/JPY is technically bearish. 92.67 July lows were wiped off the table, and the new lows at 90.94 bid guards 0.92 that is now vulnerable for continued and repeated offers while we remain en route for 89.27 and Jan 2015 lows.
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