10 Oct 2013
AUD/JPY retreats from 93 zone
FXstreet.com (Chicago) - AUD/JPY ascended to 93.04 2-week highs but failed to maintain performance erasing wins partially. Around the 92.70 zone, the pair remains in green with 0.98% daily gains so far. Market participants wait for Japanese data to be released at 23:50.
AUD/JPY Technical Levels
Technically speaking, the pair is offered at 92.80 and oscillates between supports aligned at 92.60 (September 25th highs), 92.20 (October 8th highs) followed by 91.86 (October 2nd highs) and the resistances set at 93 (session highs), 93.40 (September 24th highs) followed by 93.58 (September 20th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Adam Button from Forex Live depicts the pair as the best trade adding “the temptation is to look at this pair strictly as a risk/carry trade proxy but that would be ignoring a very important detail — it hasn’t declined in the latest round of drama. It didn’t fall on bad news and now it’s the leader on good news. I like that kind of dynamic.”
AUD/JPY Technical Levels
Technically speaking, the pair is offered at 92.80 and oscillates between supports aligned at 92.60 (September 25th highs), 92.20 (October 8th highs) followed by 91.86 (October 2nd highs) and the resistances set at 93 (session highs), 93.40 (September 24th highs) followed by 93.58 (September 20th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Adam Button from Forex Live depicts the pair as the best trade adding “the temptation is to look at this pair strictly as a risk/carry trade proxy but that would be ignoring a very important detail — it hasn’t declined in the latest round of drama. It didn’t fall on bad news and now it’s the leader on good news. I like that kind of dynamic.”