24 Jul 2013
AUD/JPY capped below 92.60 before Aus CPI + HSBC Flash PMI China
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 92.42, off recent session and double weekly high at 92.57, less than 3 hours away from Australian CPI at 01:30 GMT and HSBC Flash PMI China 15 minutes later.
AUD/JPY in tight ranges
According to IFR Markets analyst Andrew Spencer, the tight ranges continue in the cross as both components AUD and JPY suffered short squeezes. Stops are reported above recent weekly highs at 92.60. “Daily oscillators are closer to overbought and momentum is close to nil as the daily Cloud falls toward current prices,” the analyst said.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at mentioned recent session/Monday's/Friday's highs 92.57, followed by July 09 highs at 93.08, and June 10 highs at 93.80. To the downside, closest support lies at current levels as July 03 highs 92.40, followed by July 05 highs at 92.30, and July 17 highs at 92.20.
AUD/JPY in tight ranges
According to IFR Markets analyst Andrew Spencer, the tight ranges continue in the cross as both components AUD and JPY suffered short squeezes. Stops are reported above recent weekly highs at 92.60. “Daily oscillators are closer to overbought and momentum is close to nil as the daily Cloud falls toward current prices,” the analyst said.
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at mentioned recent session/Monday's/Friday's highs 92.57, followed by July 09 highs at 93.08, and June 10 highs at 93.80. To the downside, closest support lies at current levels as July 03 highs 92.40, followed by July 05 highs at 92.30, and July 17 highs at 92.20.