FxWirePro: AUD/JPY Edges Lower from Session Highs at 84.77, Further Upside

FxWirePro: AUD/JPY Edges Lower from Session Highs at 84.77, Further Upside

15 April 2016, 07:18
Roberto Jacobs
0
4

FxWirePro: AUD/JPY Edges Lower from Session Highs at 84.77, Further Upside

  • AUD/JPY hit fresh nine-day highs of 84.77, and there is scope for test of 85 levels. 
  • Upside in the pair gathered significant pace after release of RBA’s Financial Stability Review (FSR). 
  • FSR noted that the Australian financial system remains in good shape and “overall household resilience remains sound, supported by jobs growth and low rates.” 
  • The Chinese macro updates came in positive, with the GDP figures meeting expectations, while the industrial production, retail sales and fixed asset data outpacing estimates. 
  • Data triggered a renewed risk-on wave in the markets and sent the higher-yielding currencies such as the AUD higher. 
  • Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-extends-gains-above-10-DMA-at-8350-stay-long-193866) has hit all targets.  
  • We advise booking full profits for now. AUD/JPY finds strong resistance at 84.80/90 zone. Breaks above could see test of 85.40 and then 85.70 levels. 


The material has been provided by InstaForex Company - www.instaforex.com





Share it with friends: