15 Oct 2013
AUD/JPY consolidates above 93.50 after bounce
FXstreet.com (Chicago) - AUD/JPY fell until reaching lows at 93.25 to eventually bounce higher close to previously violated support, now resistance after talks in Washington were ineffective.
Market participants seem to fall into risk averse behavior again after talks in Washington show no progress and productive solutions to end the crisis and the country’s default.
AUD/JPY Technical Levels
Technically speaking, the pair is offered at 93.53 and oscillates between supports aligned at 92.19 (October 8th highs), 91.64 (September 13th lows) ahead of 90.94 (October 5th lows) and the resistances set at 93 (September 25th highs), 93.56 (September 22nd highs) followed by 94 (September 20th highs). The pair broke the downward trendline momentarily after dip below the EMA20 visiting session lows at 93.25. According to the FXstreet.com trend index, the pair is slight bearish on one-hour timeframe analysis below the EMA20.
Market participants seem to fall into risk averse behavior again after talks in Washington show no progress and productive solutions to end the crisis and the country’s default.
AUD/JPY Technical Levels
Technically speaking, the pair is offered at 93.53 and oscillates between supports aligned at 92.19 (October 8th highs), 91.64 (September 13th lows) ahead of 90.94 (October 5th lows) and the resistances set at 93 (September 25th highs), 93.56 (September 22nd highs) followed by 94 (September 20th highs). The pair broke the downward trendline momentarily after dip below the EMA20 visiting session lows at 93.25. According to the FXstreet.com trend index, the pair is slight bearish on one-hour timeframe analysis below the EMA20.