22 Aug 2013
AUD/JPY runs away to 88.40
FXstreet.com (Chicago) - AUD/JPY soared back to 88.20 zone on post release of HSBC Manufacturing PMI data in China but failed to sustain performance as it dropped back to 88.20 zone.
Weaker yen
At 50.1, expectations were beat as estimates projected 48.3. Past results were 47.7 indicating an economic expansion for the month of August. The Aussie, strengthens against the yen despite emerging market concerns that drove the currency to 2-week lows against the dollar. In Japan the Nikkei 225 trades down 0.01% on Fed’s uncertainty post FOMC minutes release. A few hours ago, Japan published foreign bond investment data at -903.8B yen vs. previous 1,625.2B. Foreign investment results in Japanese stocks were also released at 47.9B vs. previous -148.5B.
AUD/JPY Technical Levels
Technically speaking, the pair trades at 88.21 between supports at 88.00 (August 11th lows), 87.76 (August 8th lows) ahead of 87.43 (August 2nd lows) and resistances at 88.54 (August 5th highs), 88.90 (July 30th highs) followed by 89.16 (July 28th highs). According to the FXstreet.com trend index the pair is slightly bearish on one-hour timeframe analysis accumulating 0.72% daily gains so far.
Weaker yen
At 50.1, expectations were beat as estimates projected 48.3. Past results were 47.7 indicating an economic expansion for the month of August. The Aussie, strengthens against the yen despite emerging market concerns that drove the currency to 2-week lows against the dollar. In Japan the Nikkei 225 trades down 0.01% on Fed’s uncertainty post FOMC minutes release. A few hours ago, Japan published foreign bond investment data at -903.8B yen vs. previous 1,625.2B. Foreign investment results in Japanese stocks were also released at 47.9B vs. previous -148.5B.
AUD/JPY Technical Levels
Technically speaking, the pair trades at 88.21 between supports at 88.00 (August 11th lows), 87.76 (August 8th lows) ahead of 87.43 (August 2nd lows) and resistances at 88.54 (August 5th highs), 88.90 (July 30th highs) followed by 89.16 (July 28th highs). According to the FXstreet.com trend index the pair is slightly bearish on one-hour timeframe analysis accumulating 0.72% daily gains so far.