22 Jul 2015
AUD/JPY awaits Stevens as main event
FXStreet (Guatemala) - AUD/JPY is currently trading at 91.88 with a high of 92.03 and low of 91.79.
AUD/JPY is slightly lower in the Tokyo opening hour testing the 91.80 support as AUD consolidates the upside vs the greenback from over night trading in the US dollar sell off.
USD/JPY bears took control back also leaving the cross in the middle and capped through the 92.20 resistance and sent in to a southernly drift below the 92 handle to current levels. The markets turned the price action after yesterday's RBA's minutes on its head and now we await Stevens talking and the CPI's Q2 results coming up in the hour ahead. Analysts at NAB explained that the main Australian event this week will be the RBA Governor’s speech on tonight.
AUD/JPY technically short of key resistance
Technically, 91.20 remains as the main support on further supply while bears need to tackle the 91.80 level first. 90.60 would be next target guarding the handle's psychological round figure before July's uptrend from 89.40. To the upside, the cross is contained currently by strong resistance here that developed in early July's opening bearish gap ahead of the 94.40 resistance and sideways channel for June. May highs were 97.29 and capped Aprils bullish run from 90.66.
AUD/JPY is slightly lower in the Tokyo opening hour testing the 91.80 support as AUD consolidates the upside vs the greenback from over night trading in the US dollar sell off.
USD/JPY bears took control back also leaving the cross in the middle and capped through the 92.20 resistance and sent in to a southernly drift below the 92 handle to current levels. The markets turned the price action after yesterday's RBA's minutes on its head and now we await Stevens talking and the CPI's Q2 results coming up in the hour ahead. Analysts at NAB explained that the main Australian event this week will be the RBA Governor’s speech on tonight.
AUD/JPY technically short of key resistance
Technically, 91.20 remains as the main support on further supply while bears need to tackle the 91.80 level first. 90.60 would be next target guarding the handle's psychological round figure before July's uptrend from 89.40. To the upside, the cross is contained currently by strong resistance here that developed in early July's opening bearish gap ahead of the 94.40 resistance and sideways channel for June. May highs were 97.29 and capped Aprils bullish run from 90.66.