16 Jan 2014
AUD/JPY at 4-week lows after weak Australian data
FXstreet.com (Córdoba) - The AUD/JPY broke dramatically to the downside falling in a few minutes almost a hundred pips to 92.18, reaching the lowest price since December 18. The Aussie collapsed across the board after disappointing data from the Australian labor market.
While the AUD/USD dropped a hundred pips in the last hour, the EUR/USD broke above 1.3610 hitting fresh highs adding pressure to the EUR/AUD.
AUD/JPY outlook turns bearish
Before the economic number the AUD/JPY was moving in a small range, holding above 93.00 but broke the range to the downside and currently is trading near the lows, at 92.27, eyeing the next support area at 91.75 (December 4, 12 lows). To the upside resistance comes at 92.70 (December 15 low) and 93.00.
While the AUD/USD dropped a hundred pips in the last hour, the EUR/USD broke above 1.3610 hitting fresh highs adding pressure to the EUR/AUD.
AUD/JPY outlook turns bearish
Before the economic number the AUD/JPY was moving in a small range, holding above 93.00 but broke the range to the downside and currently is trading near the lows, at 92.27, eyeing the next support area at 91.75 (December 4, 12 lows). To the upside resistance comes at 92.70 (December 15 low) and 93.00.