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1 Oct 2013
AUD/JPY continues short-term upside following Aussie rate decision and comments
FXstreet.com (Barcelona) - The AUD/JPY cross is continuing the rebound that started Monday after gapping down to start the week.
AUD/JPY’s short-term upside a bright spot for global risk bulls
The AUD/JPY cross did a nice job of holding key “correction support” Monday after a nasty gap down to start the week. Tuesday, the cross has caught a tailwind from the Reserve Bank of Australia when they decided to leave rates unchanged.
For the rest of the day, AUD/JPY will be trading off of the global appetite for risk instead of data points.
Technical outlook for AUD/JPY
Technicians note that AUD/JPY has bounced nicely off of support at 90.73 since touching it early Monday. Below that level, the next support comes in at 89.87. Resistance comes in at 93.00. A close above that level will cause shorts to run for cover.
AUD/JPY’s short-term upside a bright spot for global risk bulls
The AUD/JPY cross did a nice job of holding key “correction support” Monday after a nasty gap down to start the week. Tuesday, the cross has caught a tailwind from the Reserve Bank of Australia when they decided to leave rates unchanged.
For the rest of the day, AUD/JPY will be trading off of the global appetite for risk instead of data points.
Technical outlook for AUD/JPY
Technicians note that AUD/JPY has bounced nicely off of support at 90.73 since touching it early Monday. Below that level, the next support comes in at 89.87. Resistance comes in at 93.00. A close above that level will cause shorts to run for cover.