21 Jan 2015
AUD/JPY sinks after BOJ Decision
FXStreet (Mumbai) - The Australian dollar erased previous gains and slipped versus the Japanese yen as traders digested Bank of Japan’s (BOJ) new measures.
Currently, the AUD/JPY pair traded at 96.60 down -0.49% on the day, having previously posted day’s low at 96.49 levels some minutes ago. The cross in AUD/JPY edged lower largely as the yen strengthened versus the US dollar after BOJ downgraded its inflation forecasts, and announced new measures intended at spurring growth in Japan. Moreover, the pair fell further to hit fresh session lows as the traders found BOJ Governor Kuroda’s speech more optimistic.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 97.05 (Today’s high) levels and above which it could extend gains to at 9.44 (Jan 20 High) levels. To the downside immediate support might be located at 96 levels below that at 95.76 (Jan 13 Low) levels.
Currently, the AUD/JPY pair traded at 96.60 down -0.49% on the day, having previously posted day’s low at 96.49 levels some minutes ago. The cross in AUD/JPY edged lower largely as the yen strengthened versus the US dollar after BOJ downgraded its inflation forecasts, and announced new measures intended at spurring growth in Japan. Moreover, the pair fell further to hit fresh session lows as the traders found BOJ Governor Kuroda’s speech more optimistic.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 97.05 (Today’s high) levels and above which it could extend gains to at 9.44 (Jan 20 High) levels. To the downside immediate support might be located at 96 levels below that at 95.76 (Jan 13 Low) levels.