21 Mar 2014
AUD/JPY stuck around 92.50
FXStreet (Córdoba) - The AUD/JPY once again posted a daily close around 92.50 and continues to move sideways, with support at 92.20 and 91.90 and resistance at 92.85 and 93.00.
Technical outlook for the AUD/JPY
In the short and medium term the outlook remains sideways with price action stuck around 92.50. On Thursday the pair posted the fourth consecutive daily close between 92.45 and 92.55, showing indefinition. The bias is slightly bullish as long as price remains above 91.50 where a daily uptrend line stands, coming from January lows.
On a weekly basis the pair is headed toward a moderate gains of approximately a hundred pips, supported on the back of a weak Yen, economic data from Australia and central bank comments.
Technical outlook for the AUD/JPY
In the short and medium term the outlook remains sideways with price action stuck around 92.50. On Thursday the pair posted the fourth consecutive daily close between 92.45 and 92.55, showing indefinition. The bias is slightly bullish as long as price remains above 91.50 where a daily uptrend line stands, coming from January lows.
On a weekly basis the pair is headed toward a moderate gains of approximately a hundred pips, supported on the back of a weak Yen, economic data from Australia and central bank comments.