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  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NZD/USD

    0.5962
    -0.0043 (-0.72%)
     
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • OIL

    81.96
    +0.61 (+0.75%)
     
  • GOLD

    2,218.00
    +5.30 (+0.24%)
     

AUD/JPY Buying Into Dip Continues

Dear Traders,

The AUD currency basket acts exactly as planned. Today we have a possible upmove continuation in the AUD/JPY.

Due to a higher demand in iron ore ( Australia exports to China) the AUD currency is getting stronger. The AUD/JPY POC zone is 80.05-20 and a pullback within the zone could show up fresh buyers. Coupled with historical buying from the zone, we could see a bounce towards 80.73. If the price makes a close above 80.75, watch for 81.15 – weekly H4 camarilla pivot. The ATR of the AUD/JPY has already been overshot, so it indicates we might see a retracement, but also indicates that the trend is still strong.

This article was originally posted on FX Empire

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