10 Feb 2014
AUD/JPY finds resistance below 92.00
FXStreet (Córdoba) - The AUD/JPY rose sharply last week posting the second weekly gain in a row; the rally lost steam near 92.00. In Asia the pair tested last week highs at 91.87 and pulled back, reaching at 91.50 a fresh daily low.
Stock in Japan opened higher and the Nikkei 225 is up 0.90%, but moved off session highs.
AUD/JPY levels to watch
The area round 92.00 will be tough hurdle to crack notes Jim Langlands, from FX Charts, as 4-hours chars are becoming overbought. “A break of 92.00 would bring 92.75 into sight”.
To the downside Langlands says that the AUD/JPY would find bids at 91.00; “below which would see a deeper correction, back towards 90.00”.
Stock in Japan opened higher and the Nikkei 225 is up 0.90%, but moved off session highs.
AUD/JPY levels to watch
The area round 92.00 will be tough hurdle to crack notes Jim Langlands, from FX Charts, as 4-hours chars are becoming overbought. “A break of 92.00 would bring 92.75 into sight”.
To the downside Langlands says that the AUD/JPY would find bids at 91.00; “below which would see a deeper correction, back towards 90.00”.