4 Dec 2013
AUD/JPY drops to 93.00, more to go?
FXstreet.com (London) - AUD/JPY is stalling on the 93.00 handle after the release of the Australian GDP numbers that disappointed.
GDP came in lower at 2.3% vs the 2.6% consensus and enabled an opportunity for further profit taking and those bulls who were more committed to think again and reposition any intraday plans.
AUD/JPY readings
Momentum readings are nevertheless remaining with a bullish bias longer term and RSI still only reads 48.52. The pivot is now some way higher and EMA’s are flat, although the 200 DMA is now under threat.
GDP came in lower at 2.3% vs the 2.6% consensus and enabled an opportunity for further profit taking and those bulls who were more committed to think again and reposition any intraday plans.
AUD/JPY readings
Momentum readings are nevertheless remaining with a bullish bias longer term and RSI still only reads 48.52. The pivot is now some way higher and EMA’s are flat, although the 200 DMA is now under threat.