30 Oct 2013
AUD/JPY loses 93 front
FXstreet.com (Chicago) - AUD/JPY struggled to hang on to the 93 front at Tokyo's opening but failed to protect the front dipping below it.
Technical Outlook
Trading within yesterday’s boundaries, the pair is offered at 93.01 and oscillates between the supports aligned at 92.91 (October 14th lows), 92.49 (October 12th lows) ahead of 92.16 (October 8th highs) and the resistances set at 93.22 (October 15th lows), 93.65 (October 16th lows) followed by 94 (October 28th highs). On monthly charts, a primary chart pointing up suggests a divergence between short-term and long-term price action. After retracing from the 95.50 zone, the bearish channel extends although hourly charts evidence a corrective move. According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis with a neutral EMA20.
Technical Outlook
Trading within yesterday’s boundaries, the pair is offered at 93.01 and oscillates between the supports aligned at 92.91 (October 14th lows), 92.49 (October 12th lows) ahead of 92.16 (October 8th highs) and the resistances set at 93.22 (October 15th lows), 93.65 (October 16th lows) followed by 94 (October 28th highs). On monthly charts, a primary chart pointing up suggests a divergence between short-term and long-term price action. After retracing from the 95.50 zone, the bearish channel extends although hourly charts evidence a corrective move. According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis with a neutral EMA20.