25 Aug 2015
AUD/JPY: Bears still hold upper hand, fails to keep 86.00
FXStreet (Bali) - AUD/JPY has been paring some of its sizeable gains from earlier in Asia, off its session highs at 0.8683 to presently exchange hands at 86.00 round number.
Risk sentiment best guide to trade AUD/JPY
While in the Asian session a decoupling of performance on benchmark indexes vs the battered Shanghai Composite has taken place, from a broader perspective, the general risk sentiment is still one with a sense of risk aversion, with both Europe and London, where most of the volume goes through, still having had their say, thus caution is necessary before assuming 'risk-off' legs are over.
AUD/USD and USD/JPY still under bear control: AUD/JPY bulls, not so quick...
With AUD/USD having failed to reclaim its highest volume node yesterday at 0.7230/40, and with USD/JPY unable to take control of the psychological 120.00 level, the prospects for a sustained recovery in AUD/JPY are still looking rather limited unless the former 2 majors (AUD/USD and USD/JPY) can regain control of the mentioned key technical levels. Should the bear trend resume in AUD/JPY, watch 85.00 as the next key support ahead of 84.00.
Risk sentiment best guide to trade AUD/JPY
While in the Asian session a decoupling of performance on benchmark indexes vs the battered Shanghai Composite has taken place, from a broader perspective, the general risk sentiment is still one with a sense of risk aversion, with both Europe and London, where most of the volume goes through, still having had their say, thus caution is necessary before assuming 'risk-off' legs are over.
AUD/USD and USD/JPY still under bear control: AUD/JPY bulls, not so quick...
With AUD/USD having failed to reclaim its highest volume node yesterday at 0.7230/40, and with USD/JPY unable to take control of the psychological 120.00 level, the prospects for a sustained recovery in AUD/JPY are still looking rather limited unless the former 2 majors (AUD/USD and USD/JPY) can regain control of the mentioned key technical levels. Should the bear trend resume in AUD/JPY, watch 85.00 as the next key support ahead of 84.00.