19 Nov 2013
AUD/JPY takes a couple of body blows but is off the session lows
FXstreet.com (Barcelona) - The AUD/JPY may be signalling a pause in the action for risk assets – even as it may be short-lived.
AUD/JPY action has been a bit sluggish recently
The AUD/JPY continues to struggle to gather enough steam to make all the bears run for cover. Today’s sluggish Chinese data and a lack of Yen-bearish news is causing the AUD/JPY to retrace some of its recent gains – gains that were noted here yesterday that were lagging the equity markets in “oomph”.
In just a short while, AUD/JPY traders will get to react to Japan’s Leading Economic Index and Coincident index. The rest of the session, AUD/JPY will be used a a proxy for risk appetite by big money players.
Technical outlook for AUD/JPY
Technicians say the AUD/JPY’s chart indicates key resistance at the 11/6 high of 94.15 with the 10/22 peak at 95.67 backing that up. Support comes in at the 11/13 low at 92.30 and is backed up by the 10/22 low at 90.98.
AUD/JPY action has been a bit sluggish recently
The AUD/JPY continues to struggle to gather enough steam to make all the bears run for cover. Today’s sluggish Chinese data and a lack of Yen-bearish news is causing the AUD/JPY to retrace some of its recent gains – gains that were noted here yesterday that were lagging the equity markets in “oomph”.
In just a short while, AUD/JPY traders will get to react to Japan’s Leading Economic Index and Coincident index. The rest of the session, AUD/JPY will be used a a proxy for risk appetite by big money players.
Technical outlook for AUD/JPY
Technicians say the AUD/JPY’s chart indicates key resistance at the 11/6 high of 94.15 with the 10/22 peak at 95.67 backing that up. Support comes in at the 11/13 low at 92.30 and is backed up by the 10/22 low at 90.98.