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3 Jul 2014
AUD/JPY punished to the downside
FXStreet (Guatemala) - AUD/JPY is trading at 95.62, down -0.51% on the day, having posted a daily high at 96.16 and low at 95.49.
AUD/JPY has been punished to the downside on the back of a series of highly discouraging factors for the Aussie. First up was Stevens's overly bearish outlook and comments with regard to the Aussie being highly overvalued, in fact more than by three cents to the greenback. Then, retail sales disappointed and fuelled the bears fire. However, how much more the pair can give away to the bears is yet to be seen here and we are in oversold territory with RSI currently reading 19.89, down from the last hourly print at 28.59.
AUD/JPY Levels
With spot trading at 95.62, we can see next resistance ahead at 95.70 (Daily 20 SMA), 95.76 (Weekly Classic PP), 95.79 (Hourly 200 SMA), 95.79 (Hourly 100 SMA) and 95.82 (Daily Classic S1). Support below can be found at 95.58 (Weekly Low), 95.54 (Daily Classic S2), 95.49 (Daily Low), 95.20 (Daily Classic S3) and 95.16 (Weekly Classic S1)
AUD/JPY has been punished to the downside on the back of a series of highly discouraging factors for the Aussie. First up was Stevens's overly bearish outlook and comments with regard to the Aussie being highly overvalued, in fact more than by three cents to the greenback. Then, retail sales disappointed and fuelled the bears fire. However, how much more the pair can give away to the bears is yet to be seen here and we are in oversold territory with RSI currently reading 19.89, down from the last hourly print at 28.59.
AUD/JPY Levels
With spot trading at 95.62, we can see next resistance ahead at 95.70 (Daily 20 SMA), 95.76 (Weekly Classic PP), 95.79 (Hourly 200 SMA), 95.79 (Hourly 100 SMA) and 95.82 (Daily Classic S1). Support below can be found at 95.58 (Weekly Low), 95.54 (Daily Classic S2), 95.49 (Daily Low), 95.20 (Daily Classic S3) and 95.16 (Weekly Classic S1)