7 Nov 2013
AUD/JPY getting hammered on weak Aussie employment data
FXstreet.com (Barcelona) - The AUD/JPY is tumbling hard on the surprisingly bad Aussie employment report. Bulls will have to hope technical breakdowns do not occur as a result of this down whoosh.
AUD/JPY reflecting AUD-bearishness emanating from today’s negative surprise
The news out of Australia regarding the country’s employment situation hit AUD/JPY bulls right in the gut as very few analysts or traders anticipated such as disappointing number.
For the rest of the Thursday session, traders will have to turn their attention to some hefty data points out of the US, including: US GDP; US Weekly Jobless Claims; US Personal Consumption Expenditure; and, the US Consumer Credit change.
Technical outlook for AUD/JPY
Technicians say the AUD/JPY’s chart indicated for the last several days that the cross should eventually move higher but that a short-term pullback seemed to be in order. Now it appears that pullback has started. Support or the downside target for AUD/JPY on this pullback is 92.77 with 90.98 backing that up. Resistance comes in at the 10/27 peak at 93.967 and is backed up by the 10/24 peak at 94.34.
AUD/JPY reflecting AUD-bearishness emanating from today’s negative surprise
The news out of Australia regarding the country’s employment situation hit AUD/JPY bulls right in the gut as very few analysts or traders anticipated such as disappointing number.
For the rest of the Thursday session, traders will have to turn their attention to some hefty data points out of the US, including: US GDP; US Weekly Jobless Claims; US Personal Consumption Expenditure; and, the US Consumer Credit change.
Technical outlook for AUD/JPY
Technicians say the AUD/JPY’s chart indicated for the last several days that the cross should eventually move higher but that a short-term pullback seemed to be in order. Now it appears that pullback has started. Support or the downside target for AUD/JPY on this pullback is 92.77 with 90.98 backing that up. Resistance comes in at the 10/27 peak at 93.967 and is backed up by the 10/24 peak at 94.34.