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1 Oct 2013
AUD/JPY jumps to 91.89 session highs
FXstreet.com (Chicago) - AUD/JPY dropped to 91.38 lows at Tokyo’s opening to then bounce and retrace from 91.84 highs on strong market reactions to data releases on yo-yoing rhythm that ended after Australian data was released.
Better than expected data
Shortly after the release of Australian AiG performance at 51.7 vs. past 46.4, Japanese data came in with mixed tankan results. In Australia, retail sales were 0.4% vs. past 0.1% and expected 0.3% while Japan’s labor cash earnings were -0.6% vs. past 0.1% and estimates at -0.2%.
AUD/JPY Technical Levels
Technically speaking, the pair trades at 91.85 and oscillates between supports aligned at 91.57 (September 5th highs), 91 (September 5th lows) ahead of 90.60 (September 6th lows) and resistances set at 92 (September 17th lows), 92.36 (September 18th lows) followed by 92.64 (September 25th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Better than expected data
Shortly after the release of Australian AiG performance at 51.7 vs. past 46.4, Japanese data came in with mixed tankan results. In Australia, retail sales were 0.4% vs. past 0.1% and expected 0.3% while Japan’s labor cash earnings were -0.6% vs. past 0.1% and estimates at -0.2%.
AUD/JPY Technical Levels
Technically speaking, the pair trades at 91.85 and oscillates between supports aligned at 91.57 (September 5th highs), 91 (September 5th lows) ahead of 90.60 (September 6th lows) and resistances set at 92 (September 17th lows), 92.36 (September 18th lows) followed by 92.64 (September 25th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.