2 Feb 2015
AUD/JPY moves away from 1-Month lows
FXStreet (Mumbai) - AUD/JPY rebounded from fresh monthly lows hit in the early Asian hours and edged higher, ignoring weak Chinese factory data.
Rebounded from 90.74 levels
Currently, the AUD/JPY pair traded flat at 91.62, higher by 0.43%, retreating from fresh daily highs hit at 92.70 levels. The cross in AUD/JPY recovered previous losses as traders cheered the upbeat manufacturing PMI reading from Australia. The Australia AI Group manufacturing PMI for January rose 2.1 points to 49, still in contraction, but a tick up from 46.9 recorded in December. Moreover, a weakening yen versus the greenback also added to gains in AUD/JPY.
Meanwhile, markets now await RBA rate decision later this week for further moves on the cross.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 91.70 levels and above which it could extend gains to at 92.25 levels. To the downside immediate support might be located at 91 levels below that at 90.74 levels.
Rebounded from 90.74 levels
Currently, the AUD/JPY pair traded flat at 91.62, higher by 0.43%, retreating from fresh daily highs hit at 92.70 levels. The cross in AUD/JPY recovered previous losses as traders cheered the upbeat manufacturing PMI reading from Australia. The Australia AI Group manufacturing PMI for January rose 2.1 points to 49, still in contraction, but a tick up from 46.9 recorded in December. Moreover, a weakening yen versus the greenback also added to gains in AUD/JPY.
Meanwhile, markets now await RBA rate decision later this week for further moves on the cross.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 91.70 levels and above which it could extend gains to at 92.25 levels. To the downside immediate support might be located at 91 levels below that at 90.74 levels.