8 Aug 2013
AUD/JPY breaking above 97.25 ahead of Aus jobs
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 87.32, off recent session highs at 87.48, bouncing from session lows at 86.58, on the back of Nikkei index rising +1% in early trade, just 1 hour away of Australian unemployment rate at 01:30 GMT.
AUD/JPY awaiting Aus jobs data
“The market is very short of AUD across the board, more so again after the bearish break yesterday in AUD/JPY,” said FXWW founder Sean Lee, adding: “We’ve already seen JPY longs get targeted in thinning holiday markets, and it will only take one piece of good data to send the massive AUD shorts scurrying.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session highs 97.48, followed by yesterday's Asian session highs at 87.95, and Tuesday's weekly highs at 88.57. To the downside, closest support lies at August lows/NY session highs 87.21, followed by recent session lows at 86.58, and London session weekly lows at 86.38.
AUD/JPY awaiting Aus jobs data
“The market is very short of AUD across the board, more so again after the bearish break yesterday in AUD/JPY,” said FXWW founder Sean Lee, adding: “We’ve already seen JPY longs get targeted in thinning holiday markets, and it will only take one piece of good data to send the massive AUD shorts scurrying.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at recent session highs 97.48, followed by yesterday's Asian session highs at 87.95, and Tuesday's weekly highs at 88.57. To the downside, closest support lies at August lows/NY session highs 87.21, followed by recent session lows at 86.58, and London session weekly lows at 86.38.