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7 Oct 2013
AUD/JPY, aligned for glory?
FXstreet.com (Chicago) - AUD/JPY contains yen’s strengthening on safe-haven status amid the US political shutdown and after the release of positive Australian results boosting a bullish market sentiment that gains momentum.
Preparing for growth?
Earlier Australian results confirmed rumors on economic improvement and the beginning of a new growth cycle while well-known bank institutions postponed expectations of rate cuts until next year. In Japan, economic data is due later in the day.
AUD/JPY Technical Levels
Price action reveals no divergence in terms of primary, secondary, short-term and intraday trend action. Despite fall from the 91.80 zone, the pair prints higher lows and highs ahead of Tokyo’s opening. Offered at 91.75, it navigates between supports aligned at 91.08 (July 10th lows), 89.66 (August 13th highs) ahead of 87.29 (July 31st lows) and resistances set at 92.21 (July 2nd highs), 93.79 (June 10th highs) followed by 95.00 (February 1st lows). The FXstreet.com trend index reports the pair as strongly bullish on one-hour timeframe analysis above the EMA20.
Preparing for growth?
Earlier Australian results confirmed rumors on economic improvement and the beginning of a new growth cycle while well-known bank institutions postponed expectations of rate cuts until next year. In Japan, economic data is due later in the day.
AUD/JPY Technical Levels
Price action reveals no divergence in terms of primary, secondary, short-term and intraday trend action. Despite fall from the 91.80 zone, the pair prints higher lows and highs ahead of Tokyo’s opening. Offered at 91.75, it navigates between supports aligned at 91.08 (July 10th lows), 89.66 (August 13th highs) ahead of 87.29 (July 31st lows) and resistances set at 92.21 (July 2nd highs), 93.79 (June 10th highs) followed by 95.00 (February 1st lows). The FXstreet.com trend index reports the pair as strongly bullish on one-hour timeframe analysis above the EMA20.