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Alert - 16;15 (CET) - AudJpy
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The AudJpy is trading at 71.84, ranging from 71.09 and 74.50. The current price is over yesterday's close at 71.26. In the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The traders are watching the supports at 62.35 (July 24th 2003 low), 58.11 (September 20th 2001 low) and 55.48 (0.00% retracement). The resistances are, nevertheless, watched at 72.36 (October 9th high), 82.85 (October 3rd high) and 90.27 (September 22nd high).
The pair has been rebounding from its anual low at 63.03 yen from last Friday, after the global plans to aid the global financial system. The low wasn't visited since August 2002. This way, the carry trade is regaining its momentum, as the credit sector is breathing again.
Despit that, as the equity markets are far from its intraday highs, the pair profit took again, challenging today's low at 71.09.
Checking the hourly graphics again, the current price is over the 23.60% (71.23) and under the 38.20% (80.98) Fibonacci retracement lines. The volatility per hour is 320 pips and the 60-minute Relative Strenght Index (RSI) is at 54 points, rebounding from the oversold area.
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