1 Dec 2014
AUD/JPY bouncing from lows driven on Aussie flows
FXStreet (Guatemala) - AUD/JPY is trading at 100.31, down -0.67% on the day, having posted a daily high at 100.84 and low at 100.12.
AUD/JPY has been sold off in suit of the Aussie vs the greenback as commodity currencies take a full blow across the board. Gold and oil prices have continued to drop and longs are squeezed out in very heavy supply in Gold and Oil.
The cross has caught a bounce of from the lows as positioning in the AUD/USD gets longer with markets relieved that the Chinese manufacturing continues to expand with both sets of data reading above 50 for the manufacturing business sector in China, albeit lowest since May on the HSBC release and missing expectations on both counts. Meanwhile, USD/JPY is ranging between the highs at 119.04 and lows 118.64 driven by USD trade and awaits fresh liquidity to drive the price as markets return to their desks in Europe and the US.
AUD/JPY noteworthy levels
With spot trading at 100.31, we can see next resistance ahead at 100.46 (Daily Classic S1) and 100.63 (Hourly 20 EMA). Support below can be found at 100.18 (Daily 20 SMA), 100.12 (Daily Low), 99.92 (Daily Classic S2), 99.78 (Weekly Classic S1) and 99.46 (Daily Classic S3).
AUD/JPY has been sold off in suit of the Aussie vs the greenback as commodity currencies take a full blow across the board. Gold and oil prices have continued to drop and longs are squeezed out in very heavy supply in Gold and Oil.
The cross has caught a bounce of from the lows as positioning in the AUD/USD gets longer with markets relieved that the Chinese manufacturing continues to expand with both sets of data reading above 50 for the manufacturing business sector in China, albeit lowest since May on the HSBC release and missing expectations on both counts. Meanwhile, USD/JPY is ranging between the highs at 119.04 and lows 118.64 driven by USD trade and awaits fresh liquidity to drive the price as markets return to their desks in Europe and the US.
AUD/JPY noteworthy levels
With spot trading at 100.31, we can see next resistance ahead at 100.46 (Daily Classic S1) and 100.63 (Hourly 20 EMA). Support below can be found at 100.18 (Daily 20 SMA), 100.12 (Daily Low), 99.92 (Daily Classic S2), 99.78 (Weekly Classic S1) and 99.46 (Daily Classic S3).