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4 Oct 2013
Risk bulls need AUD/JPY to eclipse 92.15 to squeeze the shorts. Will BOJ help?
FXstreet.com (Barcelona) - The AUD/JPY cross will react to the Bank of Japan’s interest rate decision and comments as well as to the overall appetite for risk by global investors.
AUD/JPY traders reacting to BOJ
AUD/JPY traders have been setting up what appears to be a base or bottom above the 90.73 “correction support” levels. The AUD/JPY will surely have some volatility in the minutes following the BOJ news. But, traders will be working to identify which directional move will "stick".
Technical outlook for AUD/JPY
Technicians note that AUD/JPY bounced nicely off of support at 90.73 since touching it early Monday. However, they point out that the cross will need to take out the 92.15 level to confirm a bottom is in place.
AUD/JPY traders reacting to BOJ
AUD/JPY traders have been setting up what appears to be a base or bottom above the 90.73 “correction support” levels. The AUD/JPY will surely have some volatility in the minutes following the BOJ news. But, traders will be working to identify which directional move will "stick".
Technical outlook for AUD/JPY
Technicians note that AUD/JPY bounced nicely off of support at 90.73 since touching it early Monday. However, they point out that the cross will need to take out the 92.15 level to confirm a bottom is in place.