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20 Sep 2013
AUD/JPY rejected below 94.50 fresh 3-month highs
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 93.86 retracing from yet another fresh 3-month highs at 94.56 printed on the back of Yen weakness, but still up +2.16% for the week this far.
AUD/JPY rally to continue
According to IFRMarkets analyst Richard Sexton bulls are right now “in control” as price has tested the 200 DMA at 94.4, and printed a “daily close seen above 38.2% fib at 93.65.” Sexton added: “Any pullback likely to be shallow - Sept 10 high at 93.57 to support. Look for rally to continue towards 50% fib at 95.91 in days to come.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session highs 93.98, followed by early NY session fresh 3-month highs at 94.56, and Feb 08 lows at 95.13. To the downside, closest support lies at late NY session lows/Sept 10 highs 93.58, followed by Monday's highs at 92.94, and Wednesday's lows at 92.32.
AUD/JPY rally to continue
According to IFRMarkets analyst Richard Sexton bulls are right now “in control” as price has tested the 200 DMA at 94.4, and printed a “daily close seen above 38.2% fib at 93.65.” Sexton added: “Any pullback likely to be shallow - Sept 10 high at 93.57 to support. Look for rally to continue towards 50% fib at 95.91 in days to come.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session highs 93.98, followed by early NY session fresh 3-month highs at 94.56, and Feb 08 lows at 95.13. To the downside, closest support lies at late NY session lows/Sept 10 highs 93.58, followed by Monday's highs at 92.94, and Wednesday's lows at 92.32.