13 Sep 2013
AUD/JPY testing bids above 92.00
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 92.14 off recent session highs at 92.32, recovering from daily lows at 91.71 following massive selling off yesterday after disappointing Aussie jobs data.
AUD/JPY triggering a reversal
According to IFRMarkets analyst Randolph Donney “This week's failure by key 38.2% Fibo hurdle at 93.64 triggered reversal. Slide reinforced by toppling, overbought daily oscillators.” Donney expects the cross to hit the 90 mark at some point in time, where he spots the Sept 04 lows along with “repeated mid Aug highs and 50% of the Aug-Sept rise.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session highs 92.32, followed by Wednesday's lows at 92.91, and yesterday's highs at 93.28. To the downside, closest support lies at current levels as Monday's highs at 92.09, followed by Friday's highs 91.70, and Sept 04 highs at 91.58.
AUD/JPY triggering a reversal
According to IFRMarkets analyst Randolph Donney “This week's failure by key 38.2% Fibo hurdle at 93.64 triggered reversal. Slide reinforced by toppling, overbought daily oscillators.” Donney expects the cross to hit the 90 mark at some point in time, where he spots the Sept 04 lows along with “repeated mid Aug highs and 50% of the Aug-Sept rise.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session highs 92.32, followed by Wednesday's lows at 92.91, and yesterday's highs at 93.28. To the downside, closest support lies at current levels as Monday's highs at 92.09, followed by Friday's highs 91.70, and Sept 04 highs at 91.58.