FxWirePro: Swiss Franc Losses Momentary, Macros To Reinstate Safe-Haven Sentiments – Quick Glance At EUR/CHF Short Trades
Blockchain Revolution Series: Tencent Holdings To Invest Huge For Tech-Infra Including Blockchain, AI & Cyber Security
FxWirePro: Bullish/Bearish Driving Forces, OTC Indications Of Bullion Market – Options Strategy To Trade & Hedge
Digital Currency/Stablecoin/Tokenization Series: Facebook’s Libra Gets Support From Singapore-Based Investors’ Consortium
Digital Currency Revolution Series: Bank of France Successfully Pilots Blockchain-Driven Digital Euro
FxWirePro: AUD/JPY consolidates below 21-EMA, 'bullish divergence' keeps scope for upside
AUD/JPY chart - Trading View
AUD/JPY has been extending sideways below 21-EMA which is capping upside in the pair.
The pair was trading 0.19% higher on the day at 66.646 at around 09:20 GMT, with session highs at 67.270 and lows at 65.988.
China’s official Manufacturing and Non-Manufacturing PMIs for March released earlier on Tuesday surprised markets with upbeat numbers.
The headline manufacturing PMI stood at 52.00, beating forecast at 45 while the Non-Manufacturing PMI rose to 52.3 compared to 37.8 expected.
Upbeat China PMI data are likely to ease fears regarding a deeper coronavirus-led economic slowdown across the globe, thereby supporting the pair higher.
Momentum studies are bullish. Bullish divergence on Stochs and RSI adds to the bullish bias.
Break out at 21-EMA could fuel more gains. Scope for test of 61.8% Fib at 70.17. Rejection at 21-EMA negates any bullish bias.