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13 Jun 2013
AUD/JPY rejected at 92.50
FXstreet.com (Barcelona) - After trading as high as 92.47 earlier in the day, the AUD/JPY was firmly rejected and sent all the way back down nearing the opening print of the day to close up 17 pips at 90.82.
AUD Job data to heighten volatility in AUD/JPY
Eamonn Sheridan at Forex Live was pointing towards the AUD Jobs release due out later in the Asia session, expanding on some of the details and listing what the market is most likely anticipating. “Australian Employment change: expected is -10,000, prior was +50,100 (this data point has been very volatile in past months) Unemployment rate: expected is 5.6%, prior was 5.5% Full time employment change: prior was +34,500 Part-time employment change: prior was 15,600 Participation rate; expected is 65.2%, prior was 65.3%,” added Sheridan.
Sheridan then went on to discuss her thoughts on the post-print direction for the AUD/USD, noting the Employment Change figure will be the most important detail to watch, and that today’s number may very well have a serious influence on what the RBA decides to do at their next meeting.
AUD/JPY path of least resistance remains lower
The FXStreet.com Trend Index remains in bearish set up on the daily chart, while ob/os index reads oversold. Short term moving averages on the daily chart are also bearish, with price remaining below the sharply downward sloping 9 and 20 dma’s. The RSI (14) is sitting near oversold levels at 24.54, but still not reflecting much of a ‘bullish divergence’ with price which may mean further downside is still likely before a bottom is found. Initial support sits at 90.00 (support from earlier this week), while first resistance is at 91.10 (supply candles on 1 hour chart).
AUD Job data to heighten volatility in AUD/JPY
Eamonn Sheridan at Forex Live was pointing towards the AUD Jobs release due out later in the Asia session, expanding on some of the details and listing what the market is most likely anticipating. “Australian Employment change: expected is -10,000, prior was +50,100 (this data point has been very volatile in past months) Unemployment rate: expected is 5.6%, prior was 5.5% Full time employment change: prior was +34,500 Part-time employment change: prior was 15,600 Participation rate; expected is 65.2%, prior was 65.3%,” added Sheridan.
Sheridan then went on to discuss her thoughts on the post-print direction for the AUD/USD, noting the Employment Change figure will be the most important detail to watch, and that today’s number may very well have a serious influence on what the RBA decides to do at their next meeting.
AUD/JPY path of least resistance remains lower
The FXStreet.com Trend Index remains in bearish set up on the daily chart, while ob/os index reads oversold. Short term moving averages on the daily chart are also bearish, with price remaining below the sharply downward sloping 9 and 20 dma’s. The RSI (14) is sitting near oversold levels at 24.54, but still not reflecting much of a ‘bullish divergence’ with price which may mean further downside is still likely before a bottom is found. Initial support sits at 90.00 (support from earlier this week), while first resistance is at 91.10 (supply candles on 1 hour chart).