AUD/JPY is currently at 96.20, off fresh session highs at 96.37,
printed on Aussie strength following RBA gov Stevens comments to
parliament, showing a not very dovish stance. As FXWW founder Sean
Lee puts it: "It looks like the short-term market was quite short
of this pair, which does surprise me somewhat, and we are seeing
some quite heavy end-of-week short covering," the analyst noted.
The cross bounces from yesterday's fresh Feb lows at 95.05,
previous January highs, as Aussie and commodities were sold off
Wednesday following FOMC minutes. Today's local share markets are
also bouncing from massive sell offs yesterday, helped on better
than previous Chinese home prices data, with Shanghai Composite up
+0.04%, Australian ASX +0.74%, and Nikkei +0.22%.
To the upside, immediate resistance for AUD/JPY shows at recent
session highs/Tuesday's lows 96.38/46, followed by Feb 15 highs at
96.70, and Wednesday's highs at 97.10. To the downside, closest
support lies at Feb lows 95.77, followed by session/Feb 15 lows
95.63/53, and Feb 11/yesterday's lows at 95.16/05.