6 Nov 2013
AUD/JPY stalls at 93.50
FXstreet.com (Chicago) - AUD/JPY is trendless, capped below the 93.80 front and with little downside action shortly after the opening of Tokyo’s markets. With the BoJ minutes released, Australian trade balance results are expected.
AUD/JPY Technical Levels
Technically speaking, the pair protects the 93.50 front and extends trading range below the 93.80 strong resistance. On hourly charts, higher highs yet lower lows are evidenced, indicating intense tension between bulls and bears. Offered at 93.54, the pair oscillates between the supports aligned at 92.63 (October 7th lows), 92 (October 4th highs) ahead of 91 (October 28th lows) and the resistances set at 93.87 (November 4th highs), 94.34 (September 18th highs) followed by 94.97 (October 21st highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.
AUD/JPY Technical Levels
Technically speaking, the pair protects the 93.50 front and extends trading range below the 93.80 strong resistance. On hourly charts, higher highs yet lower lows are evidenced, indicating intense tension between bulls and bears. Offered at 93.54, the pair oscillates between the supports aligned at 92.63 (October 7th lows), 92 (October 4th highs) ahead of 91 (October 28th lows) and the resistances set at 93.87 (November 4th highs), 94.34 (September 18th highs) followed by 94.97 (October 21st highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.