Trend for the Day: AUD/JPY

The Aussie Yen has had a phenomenal 3 month run from the February lows of 55.54 to the recent April 14th high at 73.,48.

Aussie Yen might have hit a significant road block at the 38.2% Fibo resistance level of the July 23 high of 104.46 to the October low of 54.92 which is 73.08. The DoubleTop at this level is another form of visual confirmation as the pair was not able to hold the 73.50 level. Look for the old April 29th low in the 68.00 area to be revisited in the coming days.