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26 Feb 2014
AUD/JPY is knocking at the resistance of 92.20. Is anybody home?
FXStreet (Moscow) - AUD/JPY has reversed losses after dropping below 92.00 to intraday low of 91.67; now the cross is knocking at the resistance of 92.20 as the Jen has fallen out of favor across the board.
AUD/JPY bulls don’t want to lose the game
AUD/JPY movements has been contained by 92.00 - 92.70 range for a couple of weeks now, though the cross seems to find the lower band of the above said range more comfortable. It tends to move in line with general Aussie dynamic, with the allowance for by JPY sentiments. AUD/JPY was sold away as Australia published ugly construction data (-1.0% q/q in 4Q), but reversed losses as the Japanese currency came under pressure across the board. Now the cross is testing the resistance level of 92.20 and as long as it is kept intact, we are in for the short-term retreat to 92.00 and, possibly, to the intraday lows at 91.67. If AUD/JPY bulls are bold enough to push the cross higher and break above 92.20, the upside will accelerate to 92.60.
What are today’s key AUD/JPY levels?
Today's central pivot point can be found at 92.30, with support below at 91.77, 91.46 and 90.93, with resistance above at 92.61, 93.14 and 93.45. Hourly Moving Averages are mostly bearish, with the 200SMA at 92.08 and the daily 20EMA at 91.82. Hourly RSI is neutral at 42.
AUD/JPY bulls don’t want to lose the game
AUD/JPY movements has been contained by 92.00 - 92.70 range for a couple of weeks now, though the cross seems to find the lower band of the above said range more comfortable. It tends to move in line with general Aussie dynamic, with the allowance for by JPY sentiments. AUD/JPY was sold away as Australia published ugly construction data (-1.0% q/q in 4Q), but reversed losses as the Japanese currency came under pressure across the board. Now the cross is testing the resistance level of 92.20 and as long as it is kept intact, we are in for the short-term retreat to 92.00 and, possibly, to the intraday lows at 91.67. If AUD/JPY bulls are bold enough to push the cross higher and break above 92.20, the upside will accelerate to 92.60.
What are today’s key AUD/JPY levels?
Today's central pivot point can be found at 92.30, with support below at 91.77, 91.46 and 90.93, with resistance above at 92.61, 93.14 and 93.45. Hourly Moving Averages are mostly bearish, with the 200SMA at 92.08 and the daily 20EMA at 91.82. Hourly RSI is neutral at 42.