Forex: AUD/JPY bears appear after Oz data; still neutral
Forex pairs in this Article » AUD/JPY
FXstreet.com (San Francisco) - AUDJPY dipped to fresh intraday lows after NAB reported the worst confidence data in Australia since April 2009, extending as low as 86.15, around 20 pips below the close late Monday. Price has since bounced back to the 86.20 mark, where it now trades even as Chinese New Bank loans are reported below expectations. Spot continues to operate in range between 86 and 86.70, and will maintain its current neutral stance until a more pronounced move beyond these extremes materializes. The 200-hr EMA is offered as immediate support at 86.02, which may attract heavy bids as traders continue to short JPY in anticipation of an LDP victory in Japan's December 16th elections.