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13 Jun 2013
AUD/JPY breaks below the 90 handle
FXstreet.com (Barcelona) - The AUD/JPY is trading sharply lower in Asia trade, breaking below the 90 handle for the first time since December 2012 and now sitting down 138 pips at 89.59.
AUD jobs data catalyst for “risk off”
The Aussie Jobs data which was released earlier at 1:30GMT appears to be the culprit for the risk of vibe rumbling through the markets. The print came better than expected at 1,100 vs. -10,000 estimates. Thus far, global equities are really taking it on the chin with the Nikkei leading the declines down 6% at one point earlier in the session.
AUD/JPY technical picture continues to deteriorate
The AUD/JPY technical set up on the daily chart continues to be bearish, and the break below the 90 handle is adding to downside potential. Both short term moving averages on the daily chart remain sharply downward sloping, which could continue to help limit advances. From a shorter term technical perspective, the FXStreet.com Trend Index remains slight bearish on the 1 hour chart, while the ob/os index reads oversold. First support now sits at 89.00 (daily chart level), followed by 87.50. Initial resistance now sits at the 90.00 level (low price support from June 12th, now resistance).
AUD jobs data catalyst for “risk off”
The Aussie Jobs data which was released earlier at 1:30GMT appears to be the culprit for the risk of vibe rumbling through the markets. The print came better than expected at 1,100 vs. -10,000 estimates. Thus far, global equities are really taking it on the chin with the Nikkei leading the declines down 6% at one point earlier in the session.
AUD/JPY technical picture continues to deteriorate
The AUD/JPY technical set up on the daily chart continues to be bearish, and the break below the 90 handle is adding to downside potential. Both short term moving averages on the daily chart remain sharply downward sloping, which could continue to help limit advances. From a shorter term technical perspective, the FXStreet.com Trend Index remains slight bearish on the 1 hour chart, while the ob/os index reads oversold. First support now sits at 89.00 (daily chart level), followed by 87.50. Initial resistance now sits at the 90.00 level (low price support from June 12th, now resistance).