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Aussie/Yen Technical Analysis

Posted by Joseph Trevisani on Feb 13, 2013 5:56:00 PM

ConsolidationScreenHunter 529 Feb. 07 12.09 resized 600ScreenHunter 529 Feb. 07 12.09 resized 600 to Continue


Resistance 4: 103.4 - High July 28 2008
Resistance 3: 99.93 - High August 7 2008
Resistance 2: 98.23 - High August 11 2008
Resistance 1: 97.40 - High February 5 & 6

LATEST PRICE: 96.82

Support 1: 95.08 - Previous daily resistance now support
Support 2: 94.13 - Low January 28
Support 3: 92.50 - Low January 16
Support 4: 91.13 - Low January 3

Analysis: The Aud/Jpy continues to trade sideways within the defining
95.08-97.40 range with a break of either side expected to indicate the next
move. While the pair remains supported at the 95.08 level further attempts
higher towards the psychological 100.00 level remain favoured whereas back
below the 95.08 level hints at a deeper correction.

 

MNI & WWM

 

Chart: Bloomberg

 

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