30 Aug 2013
AUD/JPY climbs at Tokyo’s opening but fails to maintain 87.80 zone
FXstreet.com (Chicago) - AUD/JPY started stronger than the yen at the opening of the Nikkei 225, index that printed gains of 1% and to fall down to 0.52%. The pair failed to maintain 87.80 zone ahead of private sector credit results in Australia.
Corrective move extended
Price action reveals correction channel that extended throughout yesterday’s session after the climb that started on August 28th. In Japan, industrial production was 3.2% vs. previous -3.1% while unemployment rate was 3.8% vs. previous 3.9%. The National consumer price index (YoY) was 0.7% vs. previous 0.2%. The National CPI ex-fresh food (YoY) for July was 0.7% beating expectations at 0.6% and previous 0.4%. Overall housing spending was 0.1% vs. expected 0.3% and previous -0.4%. Construction orders and housing starts are due later in the land of the rising sun.
AUD/JPY Technical Levels
Technically speaking, the pair trades at 87.75 between supports at 87.65 (August 20th lows), 87.37 (August 21st lows) ahead of 87.00 (August 8th lows) and resistances at 88.00 (August 26th lows), 88.54 (August 19th highs) followed by 88.86 (August 10th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.
Corrective move extended
Price action reveals correction channel that extended throughout yesterday’s session after the climb that started on August 28th. In Japan, industrial production was 3.2% vs. previous -3.1% while unemployment rate was 3.8% vs. previous 3.9%. The National consumer price index (YoY) was 0.7% vs. previous 0.2%. The National CPI ex-fresh food (YoY) for July was 0.7% beating expectations at 0.6% and previous 0.4%. Overall housing spending was 0.1% vs. expected 0.3% and previous -0.4%. Construction orders and housing starts are due later in the land of the rising sun.
AUD/JPY Technical Levels
Technically speaking, the pair trades at 87.75 between supports at 87.65 (August 20th lows), 87.37 (August 21st lows) ahead of 87.00 (August 8th lows) and resistances at 88.00 (August 26th lows), 88.54 (August 19th highs) followed by 88.86 (August 10th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.