Back
8 Oct 2013
AUD/JPY could be on the verge of more upside; a break above 91.62 is needed, though
FXstreet.com (Barcelona) - The popular global risk tell – the AUD/JPY – was trying to get high enough to challenge 91.62, but is pulling back a bit after a better-than-expected Japanese Eco-Watchers Survey gave the Yen a boost.
AUD/JPY will be acting as global investors risk proxy post-data
Now that all of the Aussie and Japanese data has been released for the session, the AUD/JPY may revert to its recent role as a global risk proxy. There still seems to be a healthy number of optimistic dip buyers that want to pick up risk assets as they approach recent lows – perhaps reflecting the aggregate global anticipation of a successful resolution to the problems in D.C.
Technical outlook for AUD/JPY
Technicians point to 91.62 as very short-term resistance for AUD/JPY. Above that, the key level to watch will be 92. Support for AUD/JPY comes in at 90.92.
AUD/JPY will be acting as global investors risk proxy post-data
Now that all of the Aussie and Japanese data has been released for the session, the AUD/JPY may revert to its recent role as a global risk proxy. There still seems to be a healthy number of optimistic dip buyers that want to pick up risk assets as they approach recent lows – perhaps reflecting the aggregate global anticipation of a successful resolution to the problems in D.C.
Technical outlook for AUD/JPY
Technicians point to 91.62 as very short-term resistance for AUD/JPY. Above that, the key level to watch will be 92. Support for AUD/JPY comes in at 90.92.