8 Nov 2013
AUD/JPY violates 92.60 support
FXstreet.com (Chicago) - AUD/JPY weakens upon the publication of the RBA quarterly statement shortly after the Tokyo’s opening.
Quarterly statement
The RBA quarterly statement was released in Australia with the highlight “at the meetings since August, the Board judged that given the substantial degree of monetary policy stimulus that had already been put in place, it was appropriate to hold the cash rate steady, but not to close off the possibility of reducing it further, should that be needed to support economic activity consistent with the inflation target.”
AUD/JPY Technical Levels
Technically speaking, the pair is offered at 92.61 and oscillates below the immediate support at 92.63 (October 29th lows) now facing 92 (October 4th highs) ahead of 91 (October 7th lows) and the resistances set at 93.87 (November 3rd highs), 94.34 (September 18th highs) followed by 95 (October 19th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.
Quarterly statement
The RBA quarterly statement was released in Australia with the highlight “at the meetings since August, the Board judged that given the substantial degree of monetary policy stimulus that had already been put in place, it was appropriate to hold the cash rate steady, but not to close off the possibility of reducing it further, should that be needed to support economic activity consistent with the inflation target.”
AUD/JPY Technical Levels
Technically speaking, the pair is offered at 92.61 and oscillates below the immediate support at 92.63 (October 29th lows) now facing 92 (October 4th highs) ahead of 91 (October 7th lows) and the resistances set at 93.87 (November 3rd highs), 94.34 (September 18th highs) followed by 95 (October 19th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.