Thursday, October 1, 2015

AUD/JPY steady below 1hr 200 SMA key resistance

FXStreet (Guatemala) - AUD/JPY is currently trading at 83.99 with a high of 84.19 and a low of 83.91.

AUD/JPY is trading between the 20 and 50 SMA on the hourly sticks and below the 200 SMA that is keeping a bearish bias to the cross in place. There has been a very minor drift to the upside as the pair recovers from recent lows scored down at 82.80 when the price rallied to the 20 SMA on the same time frame at 83.65 two sessions ago on the European handover.

AUD/JPY price action

The price continued to the 200 SMA at 84.61 and has since been in supply on mixed risk sentiment in Global time zones. Equities were doing better in Europe and the US ending positively for the quarter on Wall Street while Asia will be looking for a similar start to the month of October following suit of Wall Street. It was under pressure from highs at time of writing after the open at +0.18%

AUD/JPY post Tankan

The BoJ would be looking to the Tankan survey this month that was a mixed result and unlikely to force the hand of the Central bank. The survey showed that big manufacturers index in September worsens for the first time in three months while non-manufaturers index improved for the four straight quarters and hit the best level since 1991.

AUD/JPY awaits Chinese data

We now await the official China Sep PMI is due at 11am Syd and 9am local time while the consensus is for yet another print below the 50 mark at 49.7 and unchanged from August. The Caixin/Markit final PMI will come out at 11.45am Syd and 9.45am local and there is not expected to be a change from the flash reading of 47.0. AUD/USD should garner demand on any upside surprises.
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