21 Nov 2013
AUD/JPY relentlessly climbing to 93.50 front
FXstreet.com (Chicago) - AUD/JPY meets diverging primary and secondary trends and yet the intraday charts evidence a strong bounce aiming to erase earlier losses ahead of Japanese foreign investment data releases.
AUD/JPY Technical Levels
Price action reveals the pair is right on the 50% Fibonacci spot after bouncing off session lows almost compromising the 0.93 front. Attempting to erase earlier losses, the pair succeeds at climbing slightly higher and position itself at 93.45. On the downside, supports are aligned at 93 (November 7th lows), 92.71 (November 14th lows) ahead of 92.32 (November 12th highs) and the upside marks resistances at 93.73 (November 14th highs), 94.16 (November 6th highs) followed by 94.59 (November 19th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and oscillates below the EMA20.
AUD/JPY Technical Levels
Price action reveals the pair is right on the 50% Fibonacci spot after bouncing off session lows almost compromising the 0.93 front. Attempting to erase earlier losses, the pair succeeds at climbing slightly higher and position itself at 93.45. On the downside, supports are aligned at 93 (November 7th lows), 92.71 (November 14th lows) ahead of 92.32 (November 12th highs) and the upside marks resistances at 93.73 (November 14th highs), 94.16 (November 6th highs) followed by 94.59 (November 19th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bearish and oscillates below the EMA20.