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23 May 2014
AUD/JPY settled under the 94 handle
FXStreet (Guatemala) - AUD/JPY is trading at 93.83, down -0.01% on the day, having posted a daily high at 93.93 and low at 93.81.
AUD/JPY> is settled below and tucked under the 94 handle while the drama fades around the AUD and HSBC Chinese Manufacturing PMI data that had been supporting the pair. Meanwhile, analysts at TD Securities noted that, in recent years, volatility through the Northern Hemisphere Spring has been reflected in the rapid unwind of carry trades within the G-10 space. “AUD/JPY has had a notable tendency to experience a nasty tumble through the middle of the year after having set a major high point towards the end of April every year since 2010. The cross has dropped sharply in the months following. So far this year, AUD/JPY is tracking the 2013 price profile very closely which suggests we well might be about to experience something similar. The broader outlook for the AUD is benign.
AUD/JPY Levels
With spot trading at 93.85, we can see next resistance ahead at 93.86 (Weekly Classic S2), 93.86 (Daily Open), 93.86 (Hourly 20 EMA), 93.93 (Daily High) and 94.07 (Daily Classic R1). Support below can be found at 93.81 (Daily Low), 93.66 (Monthly Low), 93.66 (Weekly Low), 93.55 (Daily Classic PP) and 93.45 (Yesterday's Low).
AUD/JPY> is settled below and tucked under the 94 handle while the drama fades around the AUD and HSBC Chinese Manufacturing PMI data that had been supporting the pair. Meanwhile, analysts at TD Securities noted that, in recent years, volatility through the Northern Hemisphere Spring has been reflected in the rapid unwind of carry trades within the G-10 space. “AUD/JPY has had a notable tendency to experience a nasty tumble through the middle of the year after having set a major high point towards the end of April every year since 2010. The cross has dropped sharply in the months following. So far this year, AUD/JPY is tracking the 2013 price profile very closely which suggests we well might be about to experience something similar. The broader outlook for the AUD is benign.
AUD/JPY Levels
With spot trading at 93.85, we can see next resistance ahead at 93.86 (Weekly Classic S2), 93.86 (Daily Open), 93.86 (Hourly 20 EMA), 93.93 (Daily High) and 94.07 (Daily Classic R1). Support below can be found at 93.81 (Daily Low), 93.66 (Monthly Low), 93.66 (Weekly Low), 93.55 (Daily Classic PP) and 93.45 (Yesterday's Low).