'TEFLON' AUD SCRATCHED BY USDJPY http://marketscuttlebutt.com/2014/09/09/teflon-aud-scratched-by-usdjpy/ AUDUSD at session lows (.9251) as USDJPY continues...

David Scutt

Scutt Partners

'TEFLON' AUD SCRATCHED BY USDJPY (VIEW LINK) AUDUSD at session lows (.9251) as USDJPY continues to dictate US Dollar strength in Asia. As the 1 minute chart of the past 24 hour shows the Aussie (blue) continues to move in lock-step with JPYUSD (yellow), largely on the back of gains in the USD index. Next stop on the downside is .9238 with further support located between .9200-09. While this area has been a solid support since the beginning of April, given the plethora of stops located below, along with the prospect further USD gains against both the EUR, JPY and GBP ahead, the possibility of a downside break grows in the days ahead.


David Scutt
David Scutt
Independent Market Strategist
Scutt Partners

David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...

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