1 May 2014
AUD/JPY stuck in the middle of its range
FXStreet (Bali) - Currently, AUD/JPY is trading at 94.93, down -0.02% on the day, having posted a daily high at 95.00 and low at 94.83.
In the Asian session, while some financial centers - re Hong Kong, Singapore and China - will be closed due to public holidays (labour day), we have the official Chinese PMI at 1GMT as risk event, likely to produce some short-lived volatility in the pair, which remains in a phase of consolidation between 94.50 and 95.30.
How strong has the move been?
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bullish. At the time of writing, RSI is neutral at 57.23, up from 51.26 at the last hour close, while ADX is ranging at 14.31, down from 22.80 previous. Meanwhile, daily RSI is in neutral territory at 52.32.
On the hourly AUD/JPY chart, the 200 SMA is declining and currently at 94.97, down from the previous hour close at 95.21. On average, the exponential closing price for the past 20 days is 95.13, with the trend indicating a rangebound movement ahead.
How volatile has AUD/JPY been?
On a daily chart, 2-Standard Deviation Volatility Bandwidth is shrinking at 161 pips. Following the four week period average, today’s most volatile hour was between 1:00-2:00 GMT which has an average movement of 31 pips.
What price levels and patterns have to be considered?
Current price is 94.94, with resistance ahead at 94.98 (Daily Open), 95.00 (Daily High), 95.00 (Daily Classic PP), 95.13 (Daily 20 SMA) and 95.20 (Weekly Classic PP). Next support to the downside can be found at 94.93 (Hourly 20 EMA), 94.90 (Hourly 100 SMA), 94.83 (Daily Low), 94.78 (Monthly Low) and 94.78 (Weekly Low)
In the Asian session, while some financial centers - re Hong Kong, Singapore and China - will be closed due to public holidays (labour day), we have the official Chinese PMI at 1GMT as risk event, likely to produce some short-lived volatility in the pair, which remains in a phase of consolidation between 94.50 and 95.30.
How strong has the move been?
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bullish. At the time of writing, RSI is neutral at 57.23, up from 51.26 at the last hour close, while ADX is ranging at 14.31, down from 22.80 previous. Meanwhile, daily RSI is in neutral territory at 52.32.
On the hourly AUD/JPY chart, the 200 SMA is declining and currently at 94.97, down from the previous hour close at 95.21. On average, the exponential closing price for the past 20 days is 95.13, with the trend indicating a rangebound movement ahead.
How volatile has AUD/JPY been?
On a daily chart, 2-Standard Deviation Volatility Bandwidth is shrinking at 161 pips. Following the four week period average, today’s most volatile hour was between 1:00-2:00 GMT which has an average movement of 31 pips.
What price levels and patterns have to be considered?
Current price is 94.94, with resistance ahead at 94.98 (Daily Open), 95.00 (Daily High), 95.00 (Daily Classic PP), 95.13 (Daily 20 SMA) and 95.20 (Weekly Classic PP). Next support to the downside can be found at 94.93 (Hourly 20 EMA), 94.90 (Hourly 100 SMA), 94.83 (Daily Low), 94.78 (Monthly Low) and 94.78 (Weekly Low)