AUD/JPY: a chop around the pivot in light volume

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - AUD/JPY has been volatile in a tight range on the 5 minute chart with the Yen bid then offered and bid again in Tokyo's opening hour.

    AUD/USD is also consolidating in thin liquidity in holiday markets without any key data events before Chinese data at the end of the week. Instead, the focus remains on what H1 will hold in terms of risk appetite and market conditions. The Boj, RBA and Fed will be monitored closely and commodity markets will also be a key driver for the cross.

    AUD/JPY levels

    Technically, the price is stuck to the cluster of MA's on the 1hr chart while the 200d ma at 90.23 caps the recovery from early October's business lows. We are in neutral grounds here with RSI at 51 and momentum flat with spot oscillating around the pivot of 87.39.
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