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16 Apr 2014
AUD/JPY moves to the upper side of the current range
FXStreet (Moscow) - AUD/JPY is trading at 95.79, up 0.41% on the day, having posted a daily high at 95.83 and low at 95.12.
AUD/JPY follows the risk sentiments
AUD/JPY is up and rising due to positive Nikkei dynamics and overall Aussie strength. Better than expected Chinese GDP numbers improved the risk sentiments, though they were not sufficient to push the Aussie out of its long term range limited by 96.00 on the upside and 95.00 on the downside. The cross may return to the upper band of the mentioned range during the day if risk sentiments continue to improve, but we need a much more powerful trigger to continue the upside above 96.00.
What price levels and patterns have to be considered?
With spot trading at 95.80, we can see next resistance ahead at 95.83 (Daily High), 95.98 (Weekly High), 96.03 (Daily Classic R1), 96.05 (Yesterday's High) and 96.07 (Monthly High).
Support below can be found at 95.63 (Hourly 200 SMA), 95.58 (Weekly Classic PP), 95.57 (Hourly 100 SMA), 95.44 (Hourly 20 EMA) and 95.42 (Daily Classic PP).
AUD/JPY follows the risk sentiments
AUD/JPY is up and rising due to positive Nikkei dynamics and overall Aussie strength. Better than expected Chinese GDP numbers improved the risk sentiments, though they were not sufficient to push the Aussie out of its long term range limited by 96.00 on the upside and 95.00 on the downside. The cross may return to the upper band of the mentioned range during the day if risk sentiments continue to improve, but we need a much more powerful trigger to continue the upside above 96.00.
What price levels and patterns have to be considered?
With spot trading at 95.80, we can see next resistance ahead at 95.83 (Daily High), 95.98 (Weekly High), 96.03 (Daily Classic R1), 96.05 (Yesterday's High) and 96.07 (Monthly High).
Support below can be found at 95.63 (Hourly 200 SMA), 95.58 (Weekly Classic PP), 95.57 (Hourly 100 SMA), 95.44 (Hourly 20 EMA) and 95.42 (Daily Classic PP).