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2 Oct 2013
AUD/JPY consolidating gains of last two sessions. What’s next?
FXstreet.com (Barcelona) - The AUD/JPY cross is moving sideways early Wednesday after running from 90.73 to 92.39 the first two sessions of the week.
AUD/JPY traders to digest Aussie data shortly
The AUD/JPY cross rebounded powerfully Tuesday after successfully holding above key “correction support” at 90.73 on Monday and following the AUD-bullish policy commentary out of Australia.
Wednesday, AUD/JPY traders will be watching the Australian home sales, building permits and trade balance as they are released and will continue to react to the changing mood of the global markets.
Technical outlook for AUD/JPY
Technicians note that AUD/JPY has bounced nicely off of support at 90.73 since touching it early Monday. Below that level, the next support comes in at 89.87. Resistance comes in at 93.00. A close above that level will cause shorts to run for cover.
AUD/JPY traders to digest Aussie data shortly
The AUD/JPY cross rebounded powerfully Tuesday after successfully holding above key “correction support” at 90.73 on Monday and following the AUD-bullish policy commentary out of Australia.
Wednesday, AUD/JPY traders will be watching the Australian home sales, building permits and trade balance as they are released and will continue to react to the changing mood of the global markets.
Technical outlook for AUD/JPY
Technicians note that AUD/JPY has bounced nicely off of support at 90.73 since touching it early Monday. Below that level, the next support comes in at 89.87. Resistance comes in at 93.00. A close above that level will cause shorts to run for cover.