31 Jan 2014
AUD/JPY working on 90.50/55 offers absorption
FXstreet.com (Bali) - has seen steady flows since the early European morning, allowing the pair to move away from trouble and regain the 90.00 handle.
AUD gets positive inputs
The combination of EM-driven risk aversion receding, coupled with a strong short squeeze in AUD/NZD and buoyant stocks/US bond yields (Yen negative), allowed the AUD/JPY to perform a remarkably strong Thursday.
AUD/JPY still needs to overcome tenkan, kijun
AUD/JPY technicals have improved significantly, yet more work needs to be done in order to allow further upside. The next key area to regain is 90.50/55 (daily tenkan), with clearance possibly suggesting that an attack towards 91.00 up to 91.25 (daily kijun) may be launched
AUD gets positive inputs
The combination of EM-driven risk aversion receding, coupled with a strong short squeeze in AUD/NZD and buoyant stocks/US bond yields (Yen negative), allowed the AUD/JPY to perform a remarkably strong Thursday.
AUD/JPY still needs to overcome tenkan, kijun
AUD/JPY technicals have improved significantly, yet more work needs to be done in order to allow further upside. The next key area to regain is 90.50/55 (daily tenkan), with clearance possibly suggesting that an attack towards 91.00 up to 91.25 (daily kijun) may be launched