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7 Feb 2013
Forex: AUD/JPY unchanged around 96.40
AUD/JPY is inside a 50 pip range 96.10/60 last at 96.46, off recent session lows at 96.16, bouncing on Yen weakness, as USD/JPY moves back to even for the session, last at 93.57, following a downward session start, with better than expected Japan core machinery orders at +2.8% on a monthly basis, when -0.7% was expected.
Following poor Australian jobs data, along with worst NAB business confidence level since late 2009, pushed Aussie to previous NY fresh-3 month lows, taking the cross down with it, but now off those lows at 1.0309 last. All in all, AUD/JPY cross is up +7% for the new year, while slightly lower for the current week so far. Tomorrow's RBA monetary policy statement at 00:30 GMT will be closely watched looking for clues for next RBA March meeting, while Japan current account will be released 40 minutes earlier.
Immediate resistance to the upside for AUD/JPY shows at NY session highs 96.65, followed by Monday's highs at 97.07, and Tuesday's fresh 4-year highs at 97.45. To the downside, closest support lies at recent/yesterday's lows 96.15/10, followed by Monday/Tuesday's weekly lows at 95.94, and Friday's lows at 95.41.
Following poor Australian jobs data, along with worst NAB business confidence level since late 2009, pushed Aussie to previous NY fresh-3 month lows, taking the cross down with it, but now off those lows at 1.0309 last. All in all, AUD/JPY cross is up +7% for the new year, while slightly lower for the current week so far. Tomorrow's RBA monetary policy statement at 00:30 GMT will be closely watched looking for clues for next RBA March meeting, while Japan current account will be released 40 minutes earlier.
Immediate resistance to the upside for AUD/JPY shows at NY session highs 96.65, followed by Monday's highs at 97.07, and Tuesday's fresh 4-year highs at 97.45. To the downside, closest support lies at recent/yesterday's lows 96.15/10, followed by Monday/Tuesday's weekly lows at 95.94, and Friday's lows at 95.41.