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27 Aug 2014
AUD/JPY testing the 97 handle
FXStreet (Guatemala) - AUD/JPY is trading at 96.93, up 0.12% on the day, having posted a daily high at 97.00 and low at 96.79.
Analysts at TD Securities explained that the AUD/JPY has been in a one-way street since the early August rebound from the 200-day MA in the low 94 area. “Gains have extended through major resistance at 96.50. Short-term trend momentum signals are positive and will underpin further gains in the AUD here in the nearer-term at least. We think the low 98 area is a reasonable near-term target (retracement resistance and possible channel top)”.
AUD/JPY hourly levels
Current price is 96.97, with resistance ahead at 97.06 (Daily Classic R1) and 97.40 (Weekly Classic R1). Support 96.90, 96.80 and 96.50.
Analysts at TD Securities explained that the AUD/JPY has been in a one-way street since the early August rebound from the 200-day MA in the low 94 area. “Gains have extended through major resistance at 96.50. Short-term trend momentum signals are positive and will underpin further gains in the AUD here in the nearer-term at least. We think the low 98 area is a reasonable near-term target (retracement resistance and possible channel top)”.
AUD/JPY hourly levels
Current price is 96.97, with resistance ahead at 97.06 (Daily Classic R1) and 97.40 (Weekly Classic R1). Support 96.90, 96.80 and 96.50.