SUBSCRIBE TO FEEDFXstreet.com (Córdoba) – The Australian dollar keeps consolidating losses against the Yen for the 4th consecutive week. The pair fell further and posted a fresh 10-month low at 76.05 on early American trade. Despite the pair was rejected from those levels toward the 78.00 area recovering over 180 pips, the corrective bounce was limited at that high and now is retreating.
Currently AUD/JPY is trading close to 77.10, 0.73% below Thursday opening price. The pair is shown heading down for both 1 and 4 hour charts as risk aversion is back on the Asian market.
If the Yen consolidates below 77.00, next supports might be found at 76.60 and 76.30; in case the AUD manages to reverse the bias, next resistances could be faced at 78.00, 78.40 and 78.70.
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