11 Feb 2015
AUD/JPY supported at 20-DMA
FXStreet (Mumbai) - The Australian dollar bounced-back against the Japanese yen in the mid-Asian session, snapping losses from the previous session after bullish Aus economic releases buoyed the Aussie.
Back below 93
Currently, the AUD/JPY trades higher by 0.16% on the day, at 92.96 levels, retreating from previously posted fresh daily highs at 93.10 levels. AUD/JPY advanced this morning largely on Aussie moves after improved Oz consumer confidence sentiment for the first time since February 2014 boosted the cross. Moreover, a weaker yen versus the USD after encouraging US macro data also added to the gains in AUD/JPY. However, the volatility in the cross is likely to be limited as Japan remains closed for a holiday.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 93.19 levels and above which it could extend gains to at 93.33 levels. To the downside immediate support might be located at 92.69 (5-DMA) levels below that at 92.06 (10-DMA) levels.
Back below 93
Currently, the AUD/JPY trades higher by 0.16% on the day, at 92.96 levels, retreating from previously posted fresh daily highs at 93.10 levels. AUD/JPY advanced this morning largely on Aussie moves after improved Oz consumer confidence sentiment for the first time since February 2014 boosted the cross. Moreover, a weaker yen versus the USD after encouraging US macro data also added to the gains in AUD/JPY. However, the volatility in the cross is likely to be limited as Japan remains closed for a holiday.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 93.19 levels and above which it could extend gains to at 93.33 levels. To the downside immediate support might be located at 92.69 (5-DMA) levels below that at 92.06 (10-DMA) levels.