4 Nov 2013
Hot retail sales data out of Australia has AUD/JPY popping
FXstreet.com (Barcelona) - AUD/JPY is ripping higher on more AUD-bullish data and the potential for most countries – perhaps outside of Abe’s Japan – to allow rates to move up or down on their own (with no puppet’s strings).
AUD/JPY reacting bullishly to Monday’s Aussie data
AUD/JPY is reacting bullishly to a better-than-expected retail sales as well as a smattering of relatively neutral smaller data points out of Australia.
For the rest of the session Thursday, AUD/JPY traders will be monitoring the overall mood of investors and making bets based on whether there is a “risk on” or “risk off” attitude on the part of global players.
Technical outlook for AUD/JPY
Technicians say the first resistance for AUD/JPY will come in at 93.81 – the 38.2% retracement of the most recent decline. Above that comes additional Fibonacci resistance at 94.16. Support comes in at Friday’s low at 92.72 and is followed up by horizontal line support at 92.54.
AUD/JPY reacting bullishly to Monday’s Aussie data
AUD/JPY is reacting bullishly to a better-than-expected retail sales as well as a smattering of relatively neutral smaller data points out of Australia.
For the rest of the session Thursday, AUD/JPY traders will be monitoring the overall mood of investors and making bets based on whether there is a “risk on” or “risk off” attitude on the part of global players.
Technical outlook for AUD/JPY
Technicians say the first resistance for AUD/JPY will come in at 93.81 – the 38.2% retracement of the most recent decline. Above that comes additional Fibonacci resistance at 94.16. Support comes in at Friday’s low at 92.72 and is followed up by horizontal line support at 92.54.