20 Feb 2015
AUD/JPY strives for 93 handle
FXStreet (Mumbai) - AUD/JPY advanced in early European morning, extending its ascent from the previous session, largely on the Aussie strength.
AUD/JPY supported above 5-DMA
Currently, the AUD/JPY trades higher by 0.15% at 92.81 levels, failing yet another attempt to break above 93 levels. AUD/JPY edged higher as the Australian dollar outperformed its Japanese counterpart after S&P analyst in an official interview cleared that Australia rating was not a risk in the near-term which boosted the AUD across the board. However, the upside is likely to remain restricted in absence of any major data for cross in the day ahead.
Moreover, the cross is well supported above the 5-DMA located at 92.73 levels. Hence, an overall intraday bias is likely to remain for AUD/JPY until the support is breached.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 92.99 (Feb 19 High) levels and above which it could extend gains to at 93.33 levels. To the downside immediate support might be located at 92.73 (5-DMA) levels below that at 92.59 (10-DMA) levels.
AUD/JPY supported above 5-DMA
Currently, the AUD/JPY trades higher by 0.15% at 92.81 levels, failing yet another attempt to break above 93 levels. AUD/JPY edged higher as the Australian dollar outperformed its Japanese counterpart after S&P analyst in an official interview cleared that Australia rating was not a risk in the near-term which boosted the AUD across the board. However, the upside is likely to remain restricted in absence of any major data for cross in the day ahead.
Moreover, the cross is well supported above the 5-DMA located at 92.73 levels. Hence, an overall intraday bias is likely to remain for AUD/JPY until the support is breached.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 92.99 (Feb 19 High) levels and above which it could extend gains to at 93.33 levels. To the downside immediate support might be located at 92.73 (5-DMA) levels below that at 92.59 (10-DMA) levels.