9 Oct 2013
AUD/JPY re-breaking through 91.86 limits
FXstreet.com (Chicago) - AUD/JPY breaks through immediate resistance on bullish momentum due to the yen’s weakening. Printing higher highs and lows, the pair accumulates 0.70% daily gains so far.
Weakening yen & data
Hours away from the release of Japanese data including bank lending levels, foreign investment and industrial results, market participants press the pair higher on yen’s weakening. In Australia, unemployment rate for September is due at 0:30 GMT.
AUD/JPY Technical Levels
Price action reveals long-term trend confirmation with primary and secondary trends pointing up. On short-term framework, the pair breaks through immediate resistance after falling below it in the second half of the US session on the dollar’s strengthening amid rumors of a potential agreement between democrats and republicans that could put an end to the shutdown. Offered at 91.91, the pair oscillates between supports aligned at 91.44 (October 4th lows), 91.00 (October 7th lows) ahead of 90.73 (September 8th lows) and the resistances set at 91.86 (October 3rd highs), 92.22 (October 8th highs) followed by 92.60 (September 25th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis but above the EMA20.
Weakening yen & data
Hours away from the release of Japanese data including bank lending levels, foreign investment and industrial results, market participants press the pair higher on yen’s weakening. In Australia, unemployment rate for September is due at 0:30 GMT.
AUD/JPY Technical Levels
Price action reveals long-term trend confirmation with primary and secondary trends pointing up. On short-term framework, the pair breaks through immediate resistance after falling below it in the second half of the US session on the dollar’s strengthening amid rumors of a potential agreement between democrats and republicans that could put an end to the shutdown. Offered at 91.91, the pair oscillates between supports aligned at 91.44 (October 4th lows), 91.00 (October 7th lows) ahead of 90.73 (September 8th lows) and the resistances set at 91.86 (October 3rd highs), 92.22 (October 8th highs) followed by 92.60 (September 25th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis but above the EMA20.