16 Jan 2015
AUD/JPY faces stiff resistance at 5-DMA
FXStreet (Mumbai) - The Australian dollar rebounded versus the Japanese yen in the Asian session, snapping four consecutive days of losses as Aussie extended gains as oil prices stalled their downtrend.
Currently, the AUD/JPY pair traded at 95.80, up 0.38% on the day, having previously posted day’s low at 95.39 levels. The cross in AUD/JPY regained strength as Aussie continues to edge higher against the US dollar after oil prices bounced off form 6 year lows and also as traders continued to cheer robust Oz employment numbers. AUD/USD traded higher by 0.26% at 0.8235 levels. While, the USD/JPY pair traded at 116.28 levels up 0.11% on the day, at time of writing.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 96 (5-DMA) levels and above which it could extend gains to at 96.28 (Oct 29 High) levels. To the downside immediate support might be located at 94.78 (Oct 28 Low) levels below that at 94.69 (Oct 2014 Low) levels.
Currently, the AUD/JPY pair traded at 95.80, up 0.38% on the day, having previously posted day’s low at 95.39 levels. The cross in AUD/JPY regained strength as Aussie continues to edge higher against the US dollar after oil prices bounced off form 6 year lows and also as traders continued to cheer robust Oz employment numbers. AUD/USD traded higher by 0.26% at 0.8235 levels. While, the USD/JPY pair traded at 116.28 levels up 0.11% on the day, at time of writing.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 96 (5-DMA) levels and above which it could extend gains to at 96.28 (Oct 29 High) levels. To the downside immediate support might be located at 94.78 (Oct 28 Low) levels below that at 94.69 (Oct 2014 Low) levels.