4 Sep 2013
AUD/JPY resting above big 90 figure
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading near session highs at 90.26, off NY session lows at 89.73 following a sharp retrace coming from early NY fresh 1-month highs at 90.50, going for its best weekly performance since early April up +3.28% thus far.
AUD/JPY further gains likely
“AUDJPY continues to find plenty of interest to buy on dips, with a relationship being built with 20-hourly EMA since the RBA policy decision,” said Ivan Delgado, Head of Asian Editors at Fxstreet.com, adding: “The fact price has closed above a descending trendline coming from April 11 coupled with a close in NY above 90.00 round number, is indicative that further gains are likely.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at mentioned 1-month highs 90.50, followed by January 8/9 lows at 91.21, and Jan 16 lows at 92.43. To the downside, closest support lies at August 19 highs 90.14, followed by July 15 lows at 89.68, and August 23 highs at 89.40.
AUD/JPY further gains likely
“AUDJPY continues to find plenty of interest to buy on dips, with a relationship being built with 20-hourly EMA since the RBA policy decision,” said Ivan Delgado, Head of Asian Editors at Fxstreet.com, adding: “The fact price has closed above a descending trendline coming from April 11 coupled with a close in NY above 90.00 round number, is indicative that further gains are likely.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at mentioned 1-month highs 90.50, followed by January 8/9 lows at 91.21, and Jan 16 lows at 92.43. To the downside, closest support lies at August 19 highs 90.14, followed by July 15 lows at 89.68, and August 23 highs at 89.40.