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AUD/USD aiming for lower levels below 0.91
AUD/USD is trading pressured in Asia, with bears still the force in full control, presently at 0.9090 lows after the major bull trap from last Thursday following an astonishingly high Aus jobs report.
If one is to find a clear signal that suggest how bearish the sentiment has turned in the AUD/USD market, the latest Australian jobs report is the final prove. Not even such an outstanding 121k number vs 15k expected managed to turn the bear tide around.
Valeria Bednarik, Chief Analyst, commented on the Aussie: "The technical picture has turned strongly bearish with the short term picture showing indicators still heading lower despite in oversold territory, with 20 SMA now offering dynamic resistance in case of recoveries around 0.9140. In the 4 hours chart the bearish momentum remains also quite strong with no signs of exhaustion at the time being, supporting a continued slide towards the 0.9000 price zone."
USD/JPY maintains 107.00 at the Tokyo open
USD/JPY opens the Tokyo session at 107.10, en-route to rested 107.17 high, still looking very bullish despite the over-extended move from recent weeks.
According to Jim Langlads, Founder at FXCharts: "107.30 should prove strong resistance and I am a bit doubtful that the dollar will take it out today unless the US retail sales are particularly strong. If that is the case, then look for a continuation towards 108.01 (Sept 19, 2008)..."
"With the 4 hour charts being at overbought extremes, dips are inevitable but look to be relatively shallow. Today’s low at 106.63 and then the 100 Month MA at 106.45 are the first obvious supports" Jim adds.
EUR/JPY: Risk of further upside - FXStreet
According to Valeria Bednarik, Chief Analyst at, some consolidation and a following acceleration above 138.40 is required to confirm a new leg up in EUR/JPY.
"The EUR/JPY extended its advance up to critical 138.40 price zone as expected, overcoming previous monthly high a few pips below and pressuring the strong resistance level first time since mid July."
"The 1 hour chart shows moving averages turning higher around 137.30 with 100 SMA approaching 200 one yet still below, while indicators stand directionless above their midlines."
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