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16 Sep 2013
AUD/JPY breaks above 92.60 but soon fades
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 92.32 off recent session highs at 92.94 printed on the back of Aussie stops triggering above 0.9360 USD on thin markets following Larry Summers withdraw of Fed chairman race.
AUD/JPY momentum studies conflict
The AUD/JPY is currently up +0.48% with Tokyo markets closed over holiday, helped on risk-on environment, and China markets also opening higher. “5, 10 & 20 dma's trend higher - momentum studies conflict,” said IFRMarkets Andrew Spencer, adding: “91.82 NY close & 92.64 5 dma initial support/resistance.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at Friday's highs 92.49, followed by Thursday's lows/recent session highs 92.91/94, and Thursday's highs at 93.28. To the downside, closest support lies at Sept 09 highs at 92.08, followed by Thursday's/Friday's lows at 91.70/66, and Sept 05 highs at 91.58.
AUD/JPY momentum studies conflict
The AUD/JPY is currently up +0.48% with Tokyo markets closed over holiday, helped on risk-on environment, and China markets also opening higher. “5, 10 & 20 dma's trend higher - momentum studies conflict,” said IFRMarkets Andrew Spencer, adding: “91.82 NY close & 92.64 5 dma initial support/resistance.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at Friday's highs 92.49, followed by Thursday's lows/recent session highs 92.91/94, and Thursday's highs at 93.28. To the downside, closest support lies at Sept 09 highs at 92.08, followed by Thursday's/Friday's lows at 91.70/66, and Sept 05 highs at 91.58.