The pair had another poor session in Asia Friday, despite being in heavily oversold territory as Japan’s Health Minister Yasuhisa Shiozaki said there was no intention of postponing the GPIF law change. This saw strong buying of USD and selling of yen across the board, pushing the AUD below yesterday’s low of $0.8774 to touch $0.8759 from a $0.8813 high posted earlier in the day. Strong selling seen from Asian banks across AUD and NZD again today, with AUD/JPY moving from positive territory at Y95.84 to Y95.37 and making new recent lows as of writing, under Thursday’s low of Y95.41. Bids below seen at $0.8750 but the threat of some serious stops below there, sellers above at $0.8815/20, then offers from $0.8860 to $0.8900.
