5 Feb 2014
AUD/JPY key resistance to cap for time being?
FXStreet (Guatemala) - AUD/JPY has been rejected at 91.00 the figure, a major resistance and key area to the upside.
The Australian dollar has rallied a couple of times on the RBA statement and the positive risk environment meant that the Aussie rose as much as 1.8 cents on the RBA’s removal of easing bias and of references to AUD needing to fall further, according to Sean Callow, Strategist at Westpac Banking Corporation AB. “The RBA of course would have been well aware that AUD was likely to rally on their statement but also presumably would expect that their attitude to AUD would not be the major determinant of the currency in coming months”. However, for the cross, the is an air of caution on rallies while USD/JPY maybe looking like a fade, as suggested by colleague and Head Editor of the Asian markets at FXStreet, Ivan Delgado.
AUD/JPY Indictors
RSI (14) is reading 61.67 currently, with some room still to go to the upside and the short term EMA’s are still offering a positive bias currently, but turning negative as time goes by.
The Australian dollar has rallied a couple of times on the RBA statement and the positive risk environment meant that the Aussie rose as much as 1.8 cents on the RBA’s removal of easing bias and of references to AUD needing to fall further, according to Sean Callow, Strategist at Westpac Banking Corporation AB. “The RBA of course would have been well aware that AUD was likely to rally on their statement but also presumably would expect that their attitude to AUD would not be the major determinant of the currency in coming months”. However, for the cross, the is an air of caution on rallies while USD/JPY maybe looking like a fade, as suggested by colleague and Head Editor of the Asian markets at FXStreet, Ivan Delgado.
AUD/JPY Indictors
RSI (14) is reading 61.67 currently, with some room still to go to the upside and the short term EMA’s are still offering a positive bias currently, but turning negative as time goes by.