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23 Apr 2014
AUD/JPY moves deeper to the South; 95.00 is within reach
FXStreet (Moscow) - AUD/JPY got under selling pressure again and dropped to 95.15/10 support before retracing to current levels of 95.20
AUD/JPY in an ugly contest
AUD/JPY is a big loser today. The cross crashed below 95.45/00 support zone and set new Asian lows at 95.15. The new wave of selling came right after AUD/USD broke below major support zone of 0.9300 and triggered stops located around 0.9290. We consider it to be a pure technical case as there were no new fundamental triggers apart from published earlier Australian inflation data and China flash PMI that had caused the initial Aussie collapse.
What price levels and patterns have to be considered?
Resistance can be found ahead of spot at 95.20 [Last Price], 95.22 (Daily Classic S3), 95.24 (Daily 20 SMA), 95.44 (Daily Classic S2), 95.48 (Weekly Classic PP) and 95.52 (Weekly Low).
Below, we can see support at 95.13 (Daily Low), 94.90 (Weekly Classic S1), 94.24 (Weekly Classic S2), 93.66 (Weekly Classic S3) and 93.38 (Monthly Low).
AUD/JPY in an ugly contest
AUD/JPY is a big loser today. The cross crashed below 95.45/00 support zone and set new Asian lows at 95.15. The new wave of selling came right after AUD/USD broke below major support zone of 0.9300 and triggered stops located around 0.9290. We consider it to be a pure technical case as there were no new fundamental triggers apart from published earlier Australian inflation data and China flash PMI that had caused the initial Aussie collapse.
What price levels and patterns have to be considered?
Resistance can be found ahead of spot at 95.20 [Last Price], 95.22 (Daily Classic S3), 95.24 (Daily 20 SMA), 95.44 (Daily Classic S2), 95.48 (Weekly Classic PP) and 95.52 (Weekly Low).
Below, we can see support at 95.13 (Daily Low), 94.90 (Weekly Classic S1), 94.24 (Weekly Classic S2), 93.66 (Weekly Classic S3) and 93.38 (Monthly Low).