10 Oct 2013
AUD/JPY trying once again to close above 92.15 ceiling on an hourly basis
FXstreet.com (Barcelona) - At 92.19, the AUD/JPY cross is working hard to close the current hour above the 92.15 upside “correction resistance”level. If it succeeds, more upside is likely for AUD/JPY in particular and likely for risk assets in general.
AUD/JPY reacting to mixed Aussie economic data
While traders saw AUD-bullish data in the form of a lower-than-expected unemployment rate, they also got a bearish data point in the lower-than-expected number of new jobs created. The net effect is volatility – looking very much like a tug-of-war between the bulls and bears for AUD/JPY. The line of short-term victory is 92.15 – above which on an hourly close the bulls will claim victory and below which the bears can try to build back up some of their mojo.
Later Thursday, Chinese new loans and Japanese Consumer Confidence numbers are due out and could very well influence the AUD/JPY short-term direction.
Technical outlook for AUD/JPY
Technicians say AUD/JPY must conquer “correction resistance” at 92.15 on an hourly closing basis in order for the bulls to seize conrol of the situation.
AUD/JPY reacting to mixed Aussie economic data
While traders saw AUD-bullish data in the form of a lower-than-expected unemployment rate, they also got a bearish data point in the lower-than-expected number of new jobs created. The net effect is volatility – looking very much like a tug-of-war between the bulls and bears for AUD/JPY. The line of short-term victory is 92.15 – above which on an hourly close the bulls will claim victory and below which the bears can try to build back up some of their mojo.
Later Thursday, Chinese new loans and Japanese Consumer Confidence numbers are due out and could very well influence the AUD/JPY short-term direction.
Technical outlook for AUD/JPY
Technicians say AUD/JPY must conquer “correction resistance” at 92.15 on an hourly closing basis in order for the bulls to seize conrol of the situation.