11 Nov 2013
AUD/JPY falls to 92.82 lows
FXstreet.com (Chicago) - AUD/JPY retraced from the 93.22 highs and continued downward move until giving up the 93 front. Trading close to session lows at 92.82, heavy pressure to sell is evidenced.
Data
Australian data was better than expected with home loans at 4.4% vs. past -4.0% and expected 4%. Investment lending for homes was 5.2% vs. prior 0.6% indicating the housing market definitely recovered for the month of September. In Japan, the Eco Watchers Survey outlook is expected (prior 54.2).
AUD/JPY Technical Levels
Price action reveals the pair extends short-term bearish channel with hourly charts manifesting a strong retracement with lower highs and lows. Offered at 92.84, the pair oscillates between the supports aligned at 92.71 (October 31st lows), 92.31 (October 2nd highs) followed by 92 (October 4th highs) and the resistances set at 93.58 (October 30th highs), 94.13 (November 6th highs) ahead of 94.69 (October 21st lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis with a neutral EMA20.
Data
Australian data was better than expected with home loans at 4.4% vs. past -4.0% and expected 4%. Investment lending for homes was 5.2% vs. prior 0.6% indicating the housing market definitely recovered for the month of September. In Japan, the Eco Watchers Survey outlook is expected (prior 54.2).
AUD/JPY Technical Levels
Price action reveals the pair extends short-term bearish channel with hourly charts manifesting a strong retracement with lower highs and lows. Offered at 92.84, the pair oscillates between the supports aligned at 92.71 (October 31st lows), 92.31 (October 2nd highs) followed by 92 (October 4th highs) and the resistances set at 93.58 (October 30th highs), 94.13 (November 6th highs) ahead of 94.69 (October 21st lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis with a neutral EMA20.