Forex: AUD/JPY bounces from 6-week lows
Forex pairs in this Article »
AUD/JPY
FXstreet.com (San Francisco) - AUDJPY saw some whipsaw action after Australian jobs figures were released Thursday, extending to a fresh 6-week low of 79.60 where stops were triggered before rallying sharply to a session high of 80.17, last quoted in the 80.10 area vs. 79.91 late Wednesday.
If bulls continue to lift price farther, the 100-hour EMA (80.33) may attract sellers; above there, the 200-day EMA (80.81) may cap rallies. To the downside, "More stops below July low at 79.48 would target 50% fib at 78," says Richard Sexton, analyst at IFR Markets.
However, AUDJPY may be primed for a correction after the recent long retreat from the peak seen in July, given the Daily RSI's bullish aim and bouncing from the indicator's oversold level, last valued at 32.
Asian shares are mostly lower at the time of writing. Japan 225 is quoted down 13.32 points, or 0.2% at 8666.50. S&P/ASX 200 is up 40.83 points, or 1% to 4319.60. Hang Sen 40 is down 69.07 points, or 0.4% at 19076.00. S&P CNX Nifty and down 48.30 points, or 0.9% at 5225.70.
If bulls continue to lift price farther, the 100-hour EMA (80.33) may attract sellers; above there, the 200-day EMA (80.81) may cap rallies. To the downside, "More stops below July low at 79.48 would target 50% fib at 78," says Richard Sexton, analyst at IFR Markets.
However, AUDJPY may be primed for a correction after the recent long retreat from the peak seen in July, given the Daily RSI's bullish aim and bouncing from the indicator's oversold level, last valued at 32.
Asian shares are mostly lower at the time of writing. Japan 225 is quoted down 13.32 points, or 0.2% at 8666.50. S&P/ASX 200 is up 40.83 points, or 1% to 4319.60. Hang Sen 40 is down 69.07 points, or 0.4% at 19076.00. S&P CNX Nifty and down 48.30 points, or 0.9% at 5225.70.
Free Annual Reports
