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18 Sep 2013
AUD/JPY oscillating wildly after Aussie data; traders await FOMC news
FXstreet.com (Barcelona) - The AUD/JPY rallied Tuesday – reflecting the global “risk on” attitude that dominated the action since Sunday night. Wednesday morning’s release of Aussie leading data has the hesitating, though.
AUD/JPY reacts bearishly, then rebounds after Aussie data; FOMC looms
AUD/JPY Traders will be digesting the just-released Aussie leading data for a little while. With no data due out from Japan today, the focus will soon shift to the U.S. where the FOMC news later in the day will almost certainly move global markets.
Notably, the trading following the release of the Aussie data was bearish initially but has rebounded to pre-data levels at 92.70.
Technical outlook for AUD/JPY
Technicians say that AUD/JPY is likely headed down to 91.12 before the current corrective move is over. They say the overall chart is still bullish and the drop to 91.12 is buyable. The upside target for the next move higher once this correction is over should be just above the recent high at 94.87.
AUD/JPY reacts bearishly, then rebounds after Aussie data; FOMC looms
AUD/JPY Traders will be digesting the just-released Aussie leading data for a little while. With no data due out from Japan today, the focus will soon shift to the U.S. where the FOMC news later in the day will almost certainly move global markets.
Notably, the trading following the release of the Aussie data was bearish initially but has rebounded to pre-data levels at 92.70.
Technical outlook for AUD/JPY
Technicians say that AUD/JPY is likely headed down to 91.12 before the current corrective move is over. They say the overall chart is still bullish and the drop to 91.12 is buyable. The upside target for the next move higher once this correction is over should be just above the recent high at 94.87.