29 Apr 2015
AUD/JPY bulls bailing on a drift lower below 95.00
FXStreet (Guatemala) - AUD/JPY is currently trading at 94.93 with a high of 95.39 and a low of 94.91.
AUD/JPY is turning bearish on the 4 hour chart in overbought conditions attracting supply on profit taking. 94.80 comes in as first support of which is yet to be tested having only just trodden in to the vicinity below the 95 handle.
The Aussie is wavering as the less committed bulls prefer an easy route while territory on the 0.80 handle is regarded as optimistic given the RBA's preference for a lower Aussie, below 0.8000. This coupled with the Fed this week, and US Q1 GDP ahead, a phase of consolidation could be the outcome in the hours ahead in Asia on a quiet docket.
AUD/JPY is turning bearish on the 4 hour chart in overbought conditions attracting supply on profit taking. 94.80 comes in as first support of which is yet to be tested having only just trodden in to the vicinity below the 95 handle.
The Aussie is wavering as the less committed bulls prefer an easy route while territory on the 0.80 handle is regarded as optimistic given the RBA's preference for a lower Aussie, below 0.8000. This coupled with the Fed this week, and US Q1 GDP ahead, a phase of consolidation could be the outcome in the hours ahead in Asia on a quiet docket.