13 Nov 2013
AUD/JPY slipped again Tuesday; support nearby at 92.10
FXstreet.com (Barcelona) - The AUD/JPY continued to slide as the Aussie Dollar is losing the battle of the short-term weaklings with the Yen.
AUD/JPY action indicative of short-term risk-off attitude
The AUD/JPY cross still appears to be the primary proxy for risk in the currency arena – and right now the message it is sending is “risk-off”.
Today, AUD/JPY traders will be reacting to the release of mixed Consumer Confidence data out of Australia and mixed Corporate Goods Prices and Machinery Orders data out of Japan by further taking the AUD/JPY lower.
Technical outlook for AUD/JPY
Technicians say the AUD/JPY’s chart indicates support for AUD/JPY on this pullback at 92.10 with 90.98 backing that up. Resistance comes in at the recent upside pivot at 94 and is backed up by the 10/22 peak at 95.67.
AUD/JPY action indicative of short-term risk-off attitude
The AUD/JPY cross still appears to be the primary proxy for risk in the currency arena – and right now the message it is sending is “risk-off”.
Today, AUD/JPY traders will be reacting to the release of mixed Consumer Confidence data out of Australia and mixed Corporate Goods Prices and Machinery Orders data out of Japan by further taking the AUD/JPY lower.
Technical outlook for AUD/JPY
Technicians say the AUD/JPY’s chart indicates support for AUD/JPY on this pullback at 92.10 with 90.98 backing that up. Resistance comes in at the recent upside pivot at 94 and is backed up by the 10/22 peak at 95.67.