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17 Feb 2014
AUD/JPY is slightly below 92.00 and still needs to choose where to go
FXStreet (Moscow) - AUD/JPY dropped to the intraday low in early hours, but quickly reversed losses on the back of disappointing Japanese GDP numbers; now the cross is trading at 91.93 after touching 92.12.
AUD/JPY traders liked Japanese GDP numbers
AUD/JPY finished Friday nearly unchanged at 92.02, though the cross attempted a move below 91.00 and set the intraday low at 91.31. Though the general trend in the cross is still positive, we would’t completely exclude the possibility of downside correction. Japan published its 4Q GDP report that showed that the Japanese economy grew 0.4% during the last quarter of the year, worse that forecasts thought better that in 3Q. The market reaction was quick but short-lived as the cross moved to 92.12 but then returned to the opening levels around 92.00. We think this news coupled with risk sentiments (don’t forget to keep an eye on stock market dynamic) will shape the cross intraday movements. The support comes at 91.88 and followed by 91.66, while the closest resistance is seen at 92.15-20 and followed by 92.50.
What are today’s key AUD/JPY levels?
Today's central pivot point can be found at 91.88, with support below at 91.45, 90.90 and 90.47, with resistance above at 92.42, 92.85 and 93.40. Hourly Moving Averages are mostly bullish, with the 200SMA at 91.25 and the daily 20EMA at 91.45. Hourly RSI is neutral at 55.
AUD/JPY traders liked Japanese GDP numbers
AUD/JPY finished Friday nearly unchanged at 92.02, though the cross attempted a move below 91.00 and set the intraday low at 91.31. Though the general trend in the cross is still positive, we would’t completely exclude the possibility of downside correction. Japan published its 4Q GDP report that showed that the Japanese economy grew 0.4% during the last quarter of the year, worse that forecasts thought better that in 3Q. The market reaction was quick but short-lived as the cross moved to 92.12 but then returned to the opening levels around 92.00. We think this news coupled with risk sentiments (don’t forget to keep an eye on stock market dynamic) will shape the cross intraday movements. The support comes at 91.88 and followed by 91.66, while the closest resistance is seen at 92.15-20 and followed by 92.50.
What are today’s key AUD/JPY levels?
Today's central pivot point can be found at 91.88, with support below at 91.45, 90.90 and 90.47, with resistance above at 92.42, 92.85 and 93.40. Hourly Moving Averages are mostly bullish, with the 200SMA at 91.25 and the daily 20EMA at 91.45. Hourly RSI is neutral at 55.