AUD/JPY pressured in early Tokyo

By FXstreet.com | July 07, 2014 AAA

FXStreet (Bali) - AUD/JPY is trading at 95.34, down -0.08% on the day, having posted a daily high at 95.53 and low at 95.33.

The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish. Currently RSI is at 34.93, up from the last hourly print at 34.32, with ADX at 20.87, up from its previous close at 16.67. Daily RSI sits at 50.17, in neutral territory. Looking to momentum indicators, the hourly 200 SMA is currently at 95.50, down from the last close at 95.67 and declining. Over the past 20 days, the exponential average closing price is 95.67, and trending lower

According to Jim Langlands, Founder at FXCharts: "It looks as though the consolidation will continue within 95.00/96.00 range, at least in the short term. The dailies are now pretty flat, but for the time being I still prefer to be a buyer into dips towards the lower end of the range, looking for another break of 96.00, up to last week’s brief trip to 94.49, where we now have a double top (96.50; 4 April high). On the downside, 95.00 (38.2% of 93.04/96.50) remains strong, this being also where the 4 month rising trend support now lies."

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