2 Sep 2013
AUD/JPY capped below 88 ahead of Australian data
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 87.81 off recent session highs at 88.06, a +0.51% higher from previous weekly close Friday on the back of Aussie strength following better than expected China manufacturing PMI released during the weekend.
AUD/JPY higher on Aussie strength
“Move higher supported by stronger than expected China PMI data,” and “Obama decision to seek congress approval for Syria strikes also supporting,” said IFRMarkets analyst John Noonan, adding: “Break above 88.25 targets daily Kinjun line at 88.70. HSBC China MFG PMI is out today and should impact AUD and risk sentiment.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session highs as August 12 lows 88.06, followed by August 16 lows at 88.59, and August 12 highs at 89.04. To the downside, closest support lies at August 20 lows 87.59, followed by August 22 lows at 87.39, and August 01 lows at 87.20.
AUD/JPY higher on Aussie strength
“Move higher supported by stronger than expected China PMI data,” and “Obama decision to seek congress approval for Syria strikes also supporting,” said IFRMarkets analyst John Noonan, adding: “Break above 88.25 targets daily Kinjun line at 88.70. HSBC China MFG PMI is out today and should impact AUD and risk sentiment.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session highs as August 12 lows 88.06, followed by August 16 lows at 88.59, and August 12 highs at 89.04. To the downside, closest support lies at August 20 lows 87.59, followed by August 22 lows at 87.39, and August 01 lows at 87.20.