6 Sep 2013
AUD/JPY ranging below 91.60
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading near session highs at 91.42 bids little changed from previous Asia-Pacific open yesterday as both Yen and Aussie have been weak against USD.
AUD/JPY clear technical target at 93
“No reason to jump off the bull train here,” said FXWW founder Sean Lee, adding: “The clear technical target is at 93.00 and support lines are also very clear at 90.00. Looking to further reduce long positions on any approach to 93.00 with the intention of re-buying on dips. Much of course will depend on the market reaction to what happens at 100.00 in USD/JPY.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at yesterday's 1-month highs 91.57, followed by Jan 16 lows at 92.43, and Jan 23 lows/July 24 highs at 92.74. To the downside, closest support lies at Wednesday's London session highs 91.31, followed by NY session lows at 91.00, and Tuesday's highs at 90.54.
AUD/JPY clear technical target at 93
“No reason to jump off the bull train here,” said FXWW founder Sean Lee, adding: “The clear technical target is at 93.00 and support lines are also very clear at 90.00. Looking to further reduce long positions on any approach to 93.00 with the intention of re-buying on dips. Much of course will depend on the market reaction to what happens at 100.00 in USD/JPY.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at yesterday's 1-month highs 91.57, followed by Jan 16 lows at 92.43, and Jan 23 lows/July 24 highs at 92.74. To the downside, closest support lies at Wednesday's London session highs 91.31, followed by NY session lows at 91.00, and Tuesday's highs at 90.54.