Aussie Versus Yen and Dollar August 22nd

FX Strategy Video > Currency Pairs Analysis

AUD/JPY has settled down a bit on Friday, and sits just above the last cluster of support. With the Bank of Japan looking to intervene in the near future, we feel that a buying opportunity may present itself if we break the highs of Friday's session.

The AUD/USD pair looks like it failed at the 1.05 resistance area. The pair could become choppy as it bangs around between 1.03 and 1.06, as well as 1.01 and 1.03. These two areas should keep Aussie trading in a tight range.

Published on 19th of August 2011
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