11 Oct 2013
AUD/JPY breaches 93 zone momentarily
FXstreet.com (Chicago) - AUD/JPY reached 93.07, 2-week highs, on possible US shutdown ending but failed to maintain performance as no deal was made.
It’s a no
After republicans presented a proposal aiming to increase the debt ceiling to put an end to the US government shutdown, President Obama rejected the offer, bringing hopes back down and weakening the Aussie. With no more data to be released during the Asian session for both countries, the pair is at the mercy of potential developments in Washington and other unexpected events.
AUD/JPY Technical Levels
Technically speaking, the pair extends the upward trendline that started last October 3rd with steeper speedlines but remains capped at 93. Primary and secondary trends point up along with short-term analysis on 4HR and 1HR charts. Offered at 92.85, the pair oscillates between the supports aligned at 92.60 (September 25th highs), 92.20 (October 8th highs) followed by 91.86 (October 2nd highs) and the resistances set at 93 (session highs), 93.40 (September 24th highs) followed by 93.58 (September 20th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and remains above the EMA20.
It’s a no
After republicans presented a proposal aiming to increase the debt ceiling to put an end to the US government shutdown, President Obama rejected the offer, bringing hopes back down and weakening the Aussie. With no more data to be released during the Asian session for both countries, the pair is at the mercy of potential developments in Washington and other unexpected events.
AUD/JPY Technical Levels
Technically speaking, the pair extends the upward trendline that started last October 3rd with steeper speedlines but remains capped at 93. Primary and secondary trends point up along with short-term analysis on 4HR and 1HR charts. Offered at 92.85, the pair oscillates between the supports aligned at 92.60 (September 25th highs), 92.20 (October 8th highs) followed by 91.86 (October 2nd highs) and the resistances set at 93 (session highs), 93.40 (September 24th highs) followed by 93.58 (September 20th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and remains above the EMA20.