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26 Jun 2013
AUD/JPY doing the 89.60/90.80 range
FXstreet.com (Barcelona) - AUD/JPY is last trading at 90.66 near daily highs at 90.77, and off daily lows at 89.57, slightly in the positive for the week so far, inside a trading range limited by those 2 levels. No major economic news are on schedule for the Asia-Pacific today.
Strong support at the Fibo level
The cross seems to have been building some base above the 89 figure in last 2 weeks, with now the Aussie the strongest currency among majors for last 2 trading days, while Yen is in the middle of the pack. According to FXWW founder Sean Lee, the AUD/JPY has a “very strong medium-term technical support around 89.30,” adding: “There are some who claim that the strongest technical signal of all is the trend-line convergence with the 61.8% retracement.”
Key technical levels
Immediate resistance to the upside for AUD/JPY shows at mentioned daily highs 90.77, followed by Monday's NY session highs at 90.86, and early Monday's Asia-Pacific session/weekly highs at 91.09. To the downside, closest support lies at recent session lows and previous weekly close Friday 90.35, followed by Monday's/Tuesday's double weekly low at 89.60/57, and Friday's lows at 89.49.
Strong support at the Fibo level
The cross seems to have been building some base above the 89 figure in last 2 weeks, with now the Aussie the strongest currency among majors for last 2 trading days, while Yen is in the middle of the pack. According to FXWW founder Sean Lee, the AUD/JPY has a “very strong medium-term technical support around 89.30,” adding: “There are some who claim that the strongest technical signal of all is the trend-line convergence with the 61.8% retracement.”
Key technical levels
Immediate resistance to the upside for AUD/JPY shows at mentioned daily highs 90.77, followed by Monday's NY session highs at 90.86, and early Monday's Asia-Pacific session/weekly highs at 91.09. To the downside, closest support lies at recent session lows and previous weekly close Friday 90.35, followed by Monday's/Tuesday's double weekly low at 89.60/57, and Friday's lows at 89.49.