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9 Oct 2013
AUD/JPY failed to eclipse 92.15 ceiling and cascaded lower throughout the US session
FXstreet.com (Barcelona) - As the main proxy for risk in the currency markets, the AUD/JPY got crushed during the US session Tuesday as big money decided to punish the risk markets as a sign of disapproval with the goings on in Washington.
AUD/JPY will react Wednesday to Aussie and Japanese data as well as risk attitude
In addition to its seemingly primary role as a global risk proxy, the AUD/JPY may be moved around Wednesday by Australian Consumer Confidence, the BOJ’s policy meeting minutes, a speech by the BOJ’s Governor Nakaso and Japanese Machine Tool Orders.
Technical outlook for AUD/JPY
Technicians say AUD/JPY failed Tuesday to take out “correction resistance” at 92.15 and subsequently cascaded lower. As long as 90.92 holds up as support, all may not be lost for the risk bulls, though.
AUD/JPY will react Wednesday to Aussie and Japanese data as well as risk attitude
In addition to its seemingly primary role as a global risk proxy, the AUD/JPY may be moved around Wednesday by Australian Consumer Confidence, the BOJ’s policy meeting minutes, a speech by the BOJ’s Governor Nakaso and Japanese Machine Tool Orders.
Technical outlook for AUD/JPY
Technicians say AUD/JPY failed Tuesday to take out “correction resistance” at 92.15 and subsequently cascaded lower. As long as 90.92 holds up as support, all may not be lost for the risk bulls, though.