12 May 2015
AUD/JPY rises to test key 96.00
FXStreet (Córdoba) - AUD/JPY gained momentum during the European session after rising above 95.00 and printed a fresh daily high at 95.91. The pair is consolidating gains holding around 95.70.
If it ends the day around current levels, it would post the highest daily close since January 20. But the upside remains limited by the 96.00 area that is a key resistance. The mentioned level was tested during April and also last week but if failed to rise above. A break higher and a confirmation on top of 96.00 could trigger a bullish rally.
The aussie is the best performer so far on Tuesday among commodity currencies while AUD/USD approaches 0.8000 boosted by a weak dollar and despite a decline in the price of US stocks. The Dow Jones was falling 0.22% and the Nasdaq was down 0.35%.
If it ends the day around current levels, it would post the highest daily close since January 20. But the upside remains limited by the 96.00 area that is a key resistance. The mentioned level was tested during April and also last week but if failed to rise above. A break higher and a confirmation on top of 96.00 could trigger a bullish rally.
The aussie is the best performer so far on Tuesday among commodity currencies while AUD/USD approaches 0.8000 boosted by a weak dollar and despite a decline in the price of US stocks. The Dow Jones was falling 0.22% and the Nasdaq was down 0.35%.