27 Sep 2013
AUD/JPY dives to 92.13 bottoms
FXstreet.com (Chicago) - AUD/JPY plunged to 92.22 lows after finance minister Aso from Japan said the government is not thinking about an immediate cut in effective corporate tax rates.
Earlier Japnese CPI series were not impressive but the yen strengthens after governmental comments on corporate taxes ahead a potential tax sales hike next week. The Nikkei retraces 0.16%.
AUD/JPY Technical Levels
Price action reveals a steep fall from the 92.80 zone. The pair seems to find grounds around the 92.20 zone from where it attempts to consolidate a potential reversal. The primary trend prints gains whereas the secondary trend points down and matches the short-term price action. The pair is offered at 92.23 and oscillates between supports aligned at 92.06 (September 8th highs), 91.65 (September 13th lows) and 91.36 (September 7th lows) and resistances set at 92.56 (September 11th highs), 92.95 (September 11th lows) followed by 93.58 (September 17th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered below the EMA20.
Earlier Japnese CPI series were not impressive but the yen strengthens after governmental comments on corporate taxes ahead a potential tax sales hike next week. The Nikkei retraces 0.16%.
AUD/JPY Technical Levels
Price action reveals a steep fall from the 92.80 zone. The pair seems to find grounds around the 92.20 zone from where it attempts to consolidate a potential reversal. The primary trend prints gains whereas the secondary trend points down and matches the short-term price action. The pair is offered at 92.23 and oscillates between supports aligned at 92.06 (September 8th highs), 91.65 (September 13th lows) and 91.36 (September 7th lows) and resistances set at 92.56 (September 11th highs), 92.95 (September 11th lows) followed by 93.58 (September 17th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and is offered below the EMA20.