21 Jan 2014
AUD/JPY is growing above 92.00 on JPY woes
FXstreet.com (Moscow) - AUD/JPY is a winner today as it started the day at 91.68, managed to break above 92.00 and set the intraday high at 92.42.
AUD/JPY bulls want a revenge. But will they get one?
AUD/JPY is on the upside quest today as growing Asian stock indices put the JPY under pressure across the board. Though we do not buy into this newly find strength of AUD. The cross may stabilize above 92.00 area today as continued demand from China for raw materials will support the Australian currency. Though we believe that the Aussie is still under considerable pressure in the long-term perspective, and the forces behind this pressure have not disappeared when better than expected Chinese GDP figures were published. On the intraday scale watch out for 91.00 support level, once it is broken the downside may accelerate to the opening level at 91.68, while the rally above the resistance of 92.45-50 may revoke further gains to 93.00.
What are today’s key AUD/JPY levels?
Today's central pivot point can be found at 91.55, with support below at 91.21, 90.69 and 90.35, with resistance above at 92.07, 92.41 and 92.93. Hourly Moving Averages are mostly bullish, with the 200SMA at 92.78 and the daily 20EMA at 92.87. Hourly RSI is neutral at 68.62.
AUD/JPY bulls want a revenge. But will they get one?
AUD/JPY is on the upside quest today as growing Asian stock indices put the JPY under pressure across the board. Though we do not buy into this newly find strength of AUD. The cross may stabilize above 92.00 area today as continued demand from China for raw materials will support the Australian currency. Though we believe that the Aussie is still under considerable pressure in the long-term perspective, and the forces behind this pressure have not disappeared when better than expected Chinese GDP figures were published. On the intraday scale watch out for 91.00 support level, once it is broken the downside may accelerate to the opening level at 91.68, while the rally above the resistance of 92.45-50 may revoke further gains to 93.00.
What are today’s key AUD/JPY levels?
Today's central pivot point can be found at 91.55, with support below at 91.21, 90.69 and 90.35, with resistance above at 92.07, 92.41 and 92.93. Hourly Moving Averages are mostly bullish, with the 200SMA at 92.78 and the daily 20EMA at 92.87. Hourly RSI is neutral at 68.62.