17 Oct 2013
AUD/JPY dangerously close to 94.45 key limits
FXstreet.com (Chicago) - AUD/JPY extends bullish channel printing higher highs and lows but still capped at 94.40 zone.
Data
The yen has had the worst performance today across most currencies after market participants seemed to favor risk appetite on US deal. Ahead of Australia data releases later today, NAB’s business confidence results and foreign direct investment from China with direct impact on the pair’s price action.
AUD/JPY Technical Levels
Technically speaking, the pair is offered at 94.34 and oscillates between supports aligned at 94 (October 14th highs), 93.56 (September 20th highs) ahead of 93 (September 25th highs) and the resistances set at 94.45 (September 18th highs), 94.89 (January 17th highs) followed by 95.52 (February 15th lows). Extending the upward trendline after parallel movement lasting two weeks, the pair continues with upward movement from last week and approaches critical limits, 6-month altitudes.
Data
The yen has had the worst performance today across most currencies after market participants seemed to favor risk appetite on US deal. Ahead of Australia data releases later today, NAB’s business confidence results and foreign direct investment from China with direct impact on the pair’s price action.
AUD/JPY Technical Levels
Technically speaking, the pair is offered at 94.34 and oscillates between supports aligned at 94 (October 14th highs), 93.56 (September 20th highs) ahead of 93 (September 25th highs) and the resistances set at 94.45 (September 18th highs), 94.89 (January 17th highs) followed by 95.52 (February 15th lows). Extending the upward trendline after parallel movement lasting two weeks, the pair continues with upward movement from last week and approaches critical limits, 6-month altitudes.