Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/JPY rejected at highs, slips below 76 handle, bias lower

  • Fear of Bank of Japan intervention saw the pair clock a high of 76.14 in early Asia as Yen edged lower from highs.
     
  • However, post-Brexit risk aversion continued in Asia, Yen demand made a comeback, AUD/JPY rejected at highs by 76.14, slips below the 76 handle.
     
  • Aussie weakness seen across the board following poor Chinese data and a major Yuan devaluation.
     
  • PBOC set today's USD/CNY at 6.6375 vs 6.5776, USD/CNY hits its highest level since Jan 2011.
     
  • A weaker Chinese industrial profits print released earlier on the day also weighed heavily on the sentiment surrounding the commodity currencies.
     
  • AUD/JPY is currently trading around 75.30, finds major trednline support at 75 levels, break below could see weakness upto 72.45.
     
  • Intraday bias is lower, momentum studies are bearish. Break below 75 will see downside upto 74 levels.

Recommendation: Good to go short rallies around 75.50/60, SL: 76.20, TP: 75/ 74.50/ 74
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.