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8 Jan 2015
AUD/JPY rallies, faces upside barrier at 10-DMA
FXStreet (Mumbai) - The Australian dollar marched higher against the Japanese yen in the late Asian session, as yen plunged against the US dollar just falling an inch short of 120 levels.
Currently, the AUD/JPY pair trades at 97.12 levels, up 0.86% on the day, having clocked day’s high at 97.18 levels few minutes ago. The cross in AUD/JPY rallied largely on yen weakness as the USD bulls took charged against the Japanese currency on the back of robust US economic data released yesterday. The cross also remains supported as the Aussie rebounded from 5-1/2 year lows versus the US dollar on the back of upbeat buildings approvals data, higher Australian equities and recovering oil prices.
The USD/JPY pair trades at day’s high of 119.90 levels up by 0.52% on the day. While, AUD/USD traded at 0.8105, up 0.36% on the day, at time of writing.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 97.23 (Jan 6 High) levels and above which it could extend gains to at 97.63 (Dec 18 High) levels. To the downside immediate support might be located at 96.67 (Dec 17 High) levels below that at 96.21 (Dec 18 Low) levels.
Currently, the AUD/JPY pair trades at 97.12 levels, up 0.86% on the day, having clocked day’s high at 97.18 levels few minutes ago. The cross in AUD/JPY rallied largely on yen weakness as the USD bulls took charged against the Japanese currency on the back of robust US economic data released yesterday. The cross also remains supported as the Aussie rebounded from 5-1/2 year lows versus the US dollar on the back of upbeat buildings approvals data, higher Australian equities and recovering oil prices.
The USD/JPY pair trades at day’s high of 119.90 levels up by 0.52% on the day. While, AUD/USD traded at 0.8105, up 0.36% on the day, at time of writing.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 97.23 (Jan 6 High) levels and above which it could extend gains to at 97.63 (Dec 18 High) levels. To the downside immediate support might be located at 96.67 (Dec 17 High) levels below that at 96.21 (Dec 18 Low) levels.