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26 Aug 2013
AUD/JPY maintains gains above 89.00 zone
FXstreet.com (Chicago) - AUD/JPY protects last Friday’s advancements and continues trading above 89.00 zone. The Nikkei reached 0.50% gains to quickly retrace to 0.25% potentially fueled by Fed’s tapering concerns on weak housing market data made public last week.
It is nothing new
Japan released its corporate service price growth at 0.4% matching expectations and previous results. Asian markets trade stronger as weaker-than-expected results in the US economic imply inconclusive conclusions for Fed’s tapering.
AUD/JPY Technical Levels
Technically speaking, the pair trades at 89.11 below immediate support at 89.16 (August 4th highs) and facing 88.54 (July 30th highs) and 88.91 (August 1st highs). On the upside, resistances are set at 89.39 (August 22nd highs), 89.58 (August 17th lows) ahead of 89.78 (August 15th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.
It is nothing new
Japan released its corporate service price growth at 0.4% matching expectations and previous results. Asian markets trade stronger as weaker-than-expected results in the US economic imply inconclusive conclusions for Fed’s tapering.
AUD/JPY Technical Levels
Technically speaking, the pair trades at 89.11 below immediate support at 89.16 (August 4th highs) and facing 88.54 (July 30th highs) and 88.91 (August 1st highs). On the upside, resistances are set at 89.39 (August 22nd highs), 89.58 (August 17th lows) ahead of 89.78 (August 15th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.