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28 Nov 2013
AUD/JPY rallying hard on a welcome piece of bullish Aussie data
FXstreet.com (Barcelona) - The AUD/JPY held “correction support” Wednesday and began to bounce. Thursday’s release of bullish Aussie capex data just turbo-charged the bounce. Bears are hoping the 93.32 level holds as resistance.
AUD/JPY has reacted bullishly to Thursday’s data; technicals to drive action rest of session
The AUD/JPY is ripping higher following the release of a surprisingly bullish Australian Private Sector Capital Expenditure number. That data easily trumped mixed retail sales data out of Japan. The cross is trading at 93.17 or so – well off of the session lows at 92.74.
Technical outlook for AUD/JPY
Technicians say the AUD/JPY’s chart indicates short-term resistance at 93.32 which is followed by key resistance at the 11/6 high of 94.15 and the 10/22 peak at 95.67 backing that up. Support comes in at the 11/13 low at 92.30 and is backed up by the 10/22 low at 90.98.
AUD/JPY has reacted bullishly to Thursday’s data; technicals to drive action rest of session
The AUD/JPY is ripping higher following the release of a surprisingly bullish Australian Private Sector Capital Expenditure number. That data easily trumped mixed retail sales data out of Japan. The cross is trading at 93.17 or so – well off of the session lows at 92.74.
Technical outlook for AUD/JPY
Technicians say the AUD/JPY’s chart indicates short-term resistance at 93.32 which is followed by key resistance at the 11/6 high of 94.15 and the 10/22 peak at 95.67 backing that up. Support comes in at the 11/13 low at 92.30 and is backed up by the 10/22 low at 90.98.