13 Feb 2014
AUD/JPY plummets after Australian jobs data
FXStreet (Córdoba) - The AUD/JPY dropped almost a hundred pips in a few minutes following the release of the Australian employment report of January. Price fell from 92.45 to 91.57, reaching the lowest price since Tuesday’s Asian session. The jobs report came worst than expected weakening the Aussie across the board.
Recent slump broke short-term uptrend lines and erased weekly gains. Below 91.50, immediate support levels could be located at 91.30 ahead of the key 90.90 (February 4 high, Feb 7, 8 low). Resistance now comes at 92.00, 92.30 (American session low) and 92.95 (February 12 high).
The pair finished yesterday with a moderate decline but still holding a bullish bias in the short-term. But the picture changed dramatically after the employment report and now momentum favours the Yen.
Recent slump broke short-term uptrend lines and erased weekly gains. Below 91.50, immediate support levels could be located at 91.30 ahead of the key 90.90 (February 4 high, Feb 7, 8 low). Resistance now comes at 92.00, 92.30 (American session low) and 92.95 (February 12 high).
The pair finished yesterday with a moderate decline but still holding a bullish bias in the short-term. But the picture changed dramatically after the employment report and now momentum favours the Yen.