Forex: USD/JPY flipping to the downside; 88.30 giving support
FXstreet.com (Barcelona) - With local share markets slowly turning into the red, Hang-Seng index -0.13% coming from a previous +0.55%, and Nikkei index just +0.18% above intial price, now at the lunch break time, USDJPY has also turned to the downside, and currently sits around fresh session lows, last at 88.44. The pair printed an earlier session high at 88.75, following a reversal intraday chart pattern with daily lows yesterday at 88.77.
Risk appetite has seemingly gone down with worse than expected Australian jobs data, showing a loss of -5.5k positions over all, while -13.8 k were lost on full time, making AUDUSD going lower, actually at fresh weekly lows 1.0520, in what that represents for risk-on risk-off market cycle. USDJPY is also printing fresh session lows at 88.37.
Immediate support for USDJPY to the downside lies at current levels as intraday kely line 88.30, followed by yesterday's lows at 87.78, and Jan 09 lows at 86.70. To the upside, nearest term resistance comes at current session highs/Friday lows at 88.75, followed by Monday's lows at 89.05, and Monday's fresh 30-month highs at 89.62.
Risk appetite has seemingly gone down with worse than expected Australian jobs data, showing a loss of -5.5k positions over all, while -13.8 k were lost on full time, making AUDUSD going lower, actually at fresh weekly lows 1.0520, in what that represents for risk-on risk-off market cycle. USDJPY is also printing fresh session lows at 88.37.
Immediate support for USDJPY to the downside lies at current levels as intraday kely line 88.30, followed by yesterday's lows at 87.78, and Jan 09 lows at 86.70. To the upside, nearest term resistance comes at current session highs/Friday lows at 88.75, followed by Monday's lows at 89.05, and Monday's fresh 30-month highs at 89.62.
Free Annual Reports
