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18 Oct 2013
AUD/JPY stronger at opening; targets consolidation above 94.30
FXstreet.com (Chicago) - AUD/JPY protects the 94.20 zone at the opening of Tokyo after the release of positive foreign investment results in Japan and ahead of RBA’s governor speech.
Japanese data
Price action reveals the pair is stuck below the 94.30 zone after recovery from 94.10 zone. Capped at 94.40 market participants react to foreign investment data in Japan improving compared to previous results with foreign bond investments at 380.7B vs. prior -2223.9B and foreign investment in Japanese stocks at 143.6B vs. prior -27B. In Australia, RBA’s governor Stevens will give a speech with potential reactions on pair’s price action scheduled at 1 GMT.
AUD/JPY Technical Levels
Technically speaking, the pair is offered at 94.30 and oscillates between supports aligned at 94 (October 14th highs), 93.56 (September 20th highs) ahead of 93 (September 25th highs) and the resistances set at 94.45 (September 18th highs), 94.89 (January 17th highs) followed by 95.52 (February 15th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Japanese data
Price action reveals the pair is stuck below the 94.30 zone after recovery from 94.10 zone. Capped at 94.40 market participants react to foreign investment data in Japan improving compared to previous results with foreign bond investments at 380.7B vs. prior -2223.9B and foreign investment in Japanese stocks at 143.6B vs. prior -27B. In Australia, RBA’s governor Stevens will give a speech with potential reactions on pair’s price action scheduled at 1 GMT.
AUD/JPY Technical Levels
Technically speaking, the pair is offered at 94.30 and oscillates between supports aligned at 94 (October 14th highs), 93.56 (September 20th highs) ahead of 93 (September 25th highs) and the resistances set at 94.45 (September 18th highs), 94.89 (January 17th highs) followed by 95.52 (February 15th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.