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5 Aug 2014
AUD/JPY stuck in range until new macro themes develop
FXStreet (Bali) - AUD/JPY is trading at the highs of the week circa 95.65-70 after bouncing off 95.25-30 late last week, and ahead of Australian trade data and RBA later today.
Jim Langlands, Founder at FXCharts, notes: "The cross did little of interest last week and remains pretty much stuck in the middle of the overall 95/96 range of the last couple of months, after allowing for the brief dip and bounce off the Fibo support at 94.35 (61.8% of 93.04/96.50) 3 weeks ago."
"The upside continues hampered by the top of the weekly cloud (95.85) and the momentum indicators give little hint of this being taken out any time soon. The downside will see bids once again at Friday’s 95.29 low and then at 95.15 (100 DMA)",Jim adds.
Jim Langlands, Founder at FXCharts, notes: "The cross did little of interest last week and remains pretty much stuck in the middle of the overall 95/96 range of the last couple of months, after allowing for the brief dip and bounce off the Fibo support at 94.35 (61.8% of 93.04/96.50) 3 weeks ago."
"The upside continues hampered by the top of the weekly cloud (95.85) and the momentum indicators give little hint of this being taken out any time soon. The downside will see bids once again at Friday’s 95.29 low and then at 95.15 (100 DMA)",Jim adds.