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1 Aug 2013
AUD/JPY resurrecting?
FXstreet.com (Chicago) - AUD/JPY edged higher at 88.94 as steady climb continued.
On outlook for producer price index data later on Thursday, the Aussie continued to strengthen against a yen that had accumulated 1.12% losses since opening. Price action indicated potential support at 88.75 as price continued to bounce after failed attempts to edge above 89.00 key psychological resistance. At moment of writing, the pair traded at 88.81, oscillating between following supports at 88.01 (July 31 highs) and 87.42 (July 20 lows) and resistances at 89.03 (July 30 lows), 89.16 (June 22 lows) and 89.29 (June 20 lows).
The FXstreet trend index reported pair as slightly bullish with MACD pointing up for one-hour timeframe analysis.
On outlook for producer price index data later on Thursday, the Aussie continued to strengthen against a yen that had accumulated 1.12% losses since opening. Price action indicated potential support at 88.75 as price continued to bounce after failed attempts to edge above 89.00 key psychological resistance. At moment of writing, the pair traded at 88.81, oscillating between following supports at 88.01 (July 31 highs) and 87.42 (July 20 lows) and resistances at 89.03 (July 30 lows), 89.16 (June 22 lows) and 89.29 (June 20 lows).
The FXstreet trend index reported pair as slightly bullish with MACD pointing up for one-hour timeframe analysis.