20 Aug 2015
AUD/JPY downside exposed below channel support
FXStreet (Guatemala) - AUD/JPY is currently trading at 91.11 with a high of 91.13 and a low of 90.88.
AUD/JPY has been a choppy play on the short side with the Yen unwinding losses long USD/JPY , currently taking out the 124 handle on a down day for the US buck. The greenback was sold-off on the back of the FOMC minutes that were not offering an indication that indeed lift-off will take place this September fro the Fed while a hike is still not warranted by the current economic conditions.
The month of August has been quite neutral for the cross since the Aussie garnered support from a change in language around the price of the currency by the RBA and we remain in a wide neutral range. Data wise we are left out to dry while the BoJ will not meet until September 14th and 15th and there is nothing key pending for the rest of the week from the Australian economy either.
AUD/JPY consolidating short-term downside
AUD/JPY is consolidating the downside still on the daily sticks from the 96 handle when the cross slid to meet demand at 89.16 again in early July, along the Feb commencing support structure. In recent business along the time-line, the cross has been battling with pressures having fallen through the support of the sideways channel sub the 92 handle and supported at 91.60. 90.75 is the recent low below 91.20 support/now resistance and failures there would target 90.34 ahead of 89.93/00 guarding 89.37 2015 lows.
AUD/JPY has been a choppy play on the short side with the Yen unwinding losses long USD/JPY , currently taking out the 124 handle on a down day for the US buck. The greenback was sold-off on the back of the FOMC minutes that were not offering an indication that indeed lift-off will take place this September fro the Fed while a hike is still not warranted by the current economic conditions.
The month of August has been quite neutral for the cross since the Aussie garnered support from a change in language around the price of the currency by the RBA and we remain in a wide neutral range. Data wise we are left out to dry while the BoJ will not meet until September 14th and 15th and there is nothing key pending for the rest of the week from the Australian economy either.
AUD/JPY consolidating short-term downside
AUD/JPY is consolidating the downside still on the daily sticks from the 96 handle when the cross slid to meet demand at 89.16 again in early July, along the Feb commencing support structure. In recent business along the time-line, the cross has been battling with pressures having fallen through the support of the sideways channel sub the 92 handle and supported at 91.60. 90.75 is the recent low below 91.20 support/now resistance and failures there would target 90.34 ahead of 89.93/00 guarding 89.37 2015 lows.