8 Aug 2013
AUD/JPY back above 87.00 zone
FXstreet.com (Chicago) - AUD/JPY cracked below 87.00 to rebound off grounds shortly thereafter.
Unemployment rate remained the same as previous month to reach 5.7% beating expectations by 0.1%. Along similar lines, employment change for July dropped to -10,200 compared to 9,300 last month and 5,000 estimates. Amid speculations bolstered by Nikkei news and yen retreat on trade surplus at 689.9B vs. previous 234.6B, the rumor of an incremental tax rate continued to spread.
Technically speaking, the pair traded at 87.16 accumulating 0.54% gains throughout Thursday morning’s session. Surpassing immediate resistance at 87.03 (August 6th lows) followed by 87.25 (July 31st lows) and ahead of 87.47 (August 5th lows) the pair traded at 87.14 and was reported as slightly bearish by the FXstreet trend index despite most recent peak. Supports were aligned at 86.81 (March 25th 2012 highs), 86.65 (December 2nd 2012 highs) and 86.39 (January 29th 2012 highs).
Unemployment rate remained the same as previous month to reach 5.7% beating expectations by 0.1%. Along similar lines, employment change for July dropped to -10,200 compared to 9,300 last month and 5,000 estimates. Amid speculations bolstered by Nikkei news and yen retreat on trade surplus at 689.9B vs. previous 234.6B, the rumor of an incremental tax rate continued to spread.
Technically speaking, the pair traded at 87.16 accumulating 0.54% gains throughout Thursday morning’s session. Surpassing immediate resistance at 87.03 (August 6th lows) followed by 87.25 (July 31st lows) and ahead of 87.47 (August 5th lows) the pair traded at 87.14 and was reported as slightly bearish by the FXstreet trend index despite most recent peak. Supports were aligned at 86.81 (March 25th 2012 highs), 86.65 (December 2nd 2012 highs) and 86.39 (January 29th 2012 highs).