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29 Aug 2013
AUD/JPY buyers show up above 87.00 again
FXstreet.com (Barcelona) - The AUD/JPY foreign exchange cross rate is last trading at 87.32 bids, off recent daily highs at 87.51, few minutes before Japan retail sales data at 23:50 GMT expected to come around 0.0%, down from previous figures.
AUD/JPY finds solid technical support
According to FXWW founder Sean Lee there is “Solid technical support at 86.25/40” in AUD/JPY, with “Lot of buyers suddenly appearing in AUD/USD near .8900.” Lee thinks “USD/JPY still in wedge consolidation but topside danger,” adding: “I’ve taken a small long position here just below 87.00. I got stopped out of my AUD/USD earlier at .8908 but it feels like its the bottom. I might be wrong again, so I’m keeping stops fairly tight by my normal standards.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at August 22 lows 87.38, followed by recent NY session/daily highs at 87.51, and August 20 lows at 87.58. To the downside, closest support lies at recent session lows 87.22, followed by August 08/Tuesday's lows at 87.03/02, and yesterday's fresh 3-week lows at 86.44.
AUD/JPY finds solid technical support
According to FXWW founder Sean Lee there is “Solid technical support at 86.25/40” in AUD/JPY, with “Lot of buyers suddenly appearing in AUD/USD near .8900.” Lee thinks “USD/JPY still in wedge consolidation but topside danger,” adding: “I’ve taken a small long position here just below 87.00. I got stopped out of my AUD/USD earlier at .8908 but it feels like its the bottom. I might be wrong again, so I’m keeping stops fairly tight by my normal standards.”
AUD/JPY key technical levels
Immediate resistance to the upside for AUD/JPY shows at August 22 lows 87.38, followed by recent NY session/daily highs at 87.51, and August 20 lows at 87.58. To the downside, closest support lies at recent session lows 87.22, followed by August 08/Tuesday's lows at 87.03/02, and yesterday's fresh 3-week lows at 86.44.