20 Jan 2014
AUD/JPY testing Friday's lows
FXstreet.com (Córdoba) - The AUD/JPY opened the week trading within the same trading range settled during Friday's American session, between 91.40 and 91.60. A weak Aussie led to a decline of 225 pips in the AUD/JPY last week.
Early in Asia, ahead of important economic data from China, the AUD/JPY is testing Friday's lows, trading at the moment at 91.45, 0.02% low for the day.
Bearish outlook for the AUD/JPY
Jim Langlands from FX Charts notes that last week the pair broke to the downside its 1-month range and points out that is now heading toward support at 91.05. “A break would take us towards 90.75 and possibly to 90.00 although this could be some way off.”
On a wider view Langlands affirms that long-term chart are flat and the daily chart pointing a bit lower. “A return to the topside would see 92.15 and then 92.90 as resistance levels to watch.”
Early in Asia, ahead of important economic data from China, the AUD/JPY is testing Friday's lows, trading at the moment at 91.45, 0.02% low for the day.
Bearish outlook for the AUD/JPY
Jim Langlands from FX Charts notes that last week the pair broke to the downside its 1-month range and points out that is now heading toward support at 91.05. “A break would take us towards 90.75 and possibly to 90.00 although this could be some way off.”
On a wider view Langlands affirms that long-term chart are flat and the daily chart pointing a bit lower. “A return to the topside would see 92.15 and then 92.90 as resistance levels to watch.”