11 Jul 2014
AUD/JPY reclaims 95 handle post heavy offers
FXStreet (Guatemala) - AUD/JPY is trading at 95.10, down -0.11% on the day, having posted a daily high at 95.25 and low at 95.07.
AUD/JPY has retraced part of its losses and reclaimed the 95 handle but finding resistance at the opening level, 95.20. For a more complete insight, Sean Callow, analyst at Westpac Banking Corporation ABN explained recently that the pair looks to be firmly capped at 96.50 near term, with Japanese retail investors still not enthusiastic about buying AUD above 95-96. “There is probably a little more room on the downside multi-week, perhaps as far as the 93 lows of May, given the ongoing potential for volatility to pick up from recent historically depressed levels. Neither the BoJ or RBA however should be drivers of major change in the cross”.
AUD/JPY Levels
Spot is presently trading at 95.10, and next resistance can be seen at 95.11 (Daily Classic S3), 95.17 (Hourly 20 EMA), 95.20 (Daily Open). Support below can be found at 95.07 (Daily Low), 94.99 (Weekly Classic S1), 94.71 (Yesterday's Low), 94.60 (Daily 100 SMA) and 94.39 (Weekly Classic S2).
AUD/JPY has retraced part of its losses and reclaimed the 95 handle but finding resistance at the opening level, 95.20. For a more complete insight, Sean Callow, analyst at Westpac Banking Corporation ABN explained recently that the pair looks to be firmly capped at 96.50 near term, with Japanese retail investors still not enthusiastic about buying AUD above 95-96. “There is probably a little more room on the downside multi-week, perhaps as far as the 93 lows of May, given the ongoing potential for volatility to pick up from recent historically depressed levels. Neither the BoJ or RBA however should be drivers of major change in the cross”.
AUD/JPY Levels
Spot is presently trading at 95.10, and next resistance can be seen at 95.11 (Daily Classic S3), 95.17 (Hourly 20 EMA), 95.20 (Daily Open). Support below can be found at 95.07 (Daily Low), 94.99 (Weekly Classic S1), 94.71 (Yesterday's Low), 94.60 (Daily 100 SMA) and 94.39 (Weekly Classic S2).