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19 May 2015
AUD/JPY: Downside below 200 EMA opening up
FXStreet (Guatemala) - AUD/JPY is currently trading at 95.48 with a high of 0.9608 and a low of 95.39.
AUD/JPY has been a drift to the downside since meeting this years highs and supply at 97.30 last week. The Aussie is under pressure again with comments from Lowe first of all that were dovish and then again the door was left open for further cuts in the RBA minutes of the Central Bank's previous meeting. To add to the mix, we will have Kuroda's speech later in the week and GDP for Japan, both of which could be market moving events for the cross.
Technically, AUD/JPY is moving in below the 200 EMA at 95.55 and comes with a highly bearish bias on the hourly charts while RSI (14) that still offers room to the downside also, ahead of Fibo S3 at 95.26 which has offered both support and resistance on a number of occasions tracing back this past couple of weeks so far.
AUD/JPY has been a drift to the downside since meeting this years highs and supply at 97.30 last week. The Aussie is under pressure again with comments from Lowe first of all that were dovish and then again the door was left open for further cuts in the RBA minutes of the Central Bank's previous meeting. To add to the mix, we will have Kuroda's speech later in the week and GDP for Japan, both of which could be market moving events for the cross.
Technically, AUD/JPY is moving in below the 200 EMA at 95.55 and comes with a highly bearish bias on the hourly charts while RSI (14) that still offers room to the downside also, ahead of Fibo S3 at 95.26 which has offered both support and resistance on a number of occasions tracing back this past couple of weeks so far.