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18 May 2015
AUD/JPY testing EMA 100 and S1
FXStreet (Guatemala) - AUD/JPY is currently trading at 95.87 with a high of 96.10 and a 95.64.
AUD/JPY has dipped lower and is extending the descending support and supply that commenced at 92.29 and at the top of the April commencing rally. The Aussie has been the driver of the Asian market this week so far, with RBA's Lowe speaking and offering a dovish tone explaining that the Bank still has room to cut rates if necessary.
The cross is lead by the majors with the recent improvement in Japan’s external account surplus that continues to encouraging USD/JPY selling and the Aussie now down testing the ascending support line of the rising channel. Technically, the cross has dropped to S1 here at 95.88 and hourly EMA 100, offering strong support while trading below the pivot of 95.99. EMA 200 is located at 95.58 and is last stop ahead of 95 the figure.
AUD/JPY has dipped lower and is extending the descending support and supply that commenced at 92.29 and at the top of the April commencing rally. The Aussie has been the driver of the Asian market this week so far, with RBA's Lowe speaking and offering a dovish tone explaining that the Bank still has room to cut rates if necessary.
The cross is lead by the majors with the recent improvement in Japan’s external account surplus that continues to encouraging USD/JPY selling and the Aussie now down testing the ascending support line of the rising channel. Technically, the cross has dropped to S1 here at 95.88 and hourly EMA 100, offering strong support while trading below the pivot of 95.99. EMA 200 is located at 95.58 and is last stop ahead of 95 the figure.