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22 Oct 2013
AUD/JPY basically treading water after another up day Monday. Ultimate target 97?
FXstreet.com (Barcelona) - AUD/JPY continues to reflect a “risk on” backdrop despite the day-off that equities took on Monday.
AUD/JPY will clearly be moving around Tuesday on US jobs data
With a dearth of data from Australia and Japan on Tuesday, global traders of AUD/JPY will have to focus on both the global attitude towards risk early in the session and the reaction to the US Non-Farm Payrolls number later in the session.
Technical outlook for AUD/JPY
Technicians say AUD/JPY has broken out above previous short-term highs of 94.43 and is on a track to eventually test 97.95 at a minimum. They say buying into AUD/JPY may be a little treacherous as the cross is technically overbought short-term. A better entry may be around 94.00 according to the TA crowd. Shorter-term resistance might come in at around 96 – one pivot from late-May.
AUD/JPY will clearly be moving around Tuesday on US jobs data
With a dearth of data from Australia and Japan on Tuesday, global traders of AUD/JPY will have to focus on both the global attitude towards risk early in the session and the reaction to the US Non-Farm Payrolls number later in the session.
Technical outlook for AUD/JPY
Technicians say AUD/JPY has broken out above previous short-term highs of 94.43 and is on a track to eventually test 97.95 at a minimum. They say buying into AUD/JPY may be a little treacherous as the cross is technically overbought short-term. A better entry may be around 94.00 according to the TA crowd. Shorter-term resistance might come in at around 96 – one pivot from late-May.