23 Feb 2015
AUD/JPY supported above 5-DMA
FXStreet (Mumbai) - AUD/JPY remained weak in the Asian session, reversing gains seen in the previous session, largely on the back of Aussie weakness
AUD/JPY stuck at 93.18 levels
Currently, the AUD/JPY cross trades lower by -0.17% at 93.19 levels, hovering close to day’s low previously posted at 93.13 levels. AUD/JPY edged lower as the Australian dollar lost ground versus the Japanese yen amid a slightly stronger greenback. However, in absence of significant data releases for the cross in the day ahead, the traders will now focus on US home sales data due later today for further momentum on the pair.
Moreover, the cross is well supported above the 5-DMA located at 93.09 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 93.48 (Feb 20 High) levels and above which it could extend gains to at 93.98 levels. To the downside immediate support might be located at 93.09 (5-DMA) levels below that at 92.93 (10-DMA) levels.
AUD/JPY stuck at 93.18 levels
Currently, the AUD/JPY cross trades lower by -0.17% at 93.19 levels, hovering close to day’s low previously posted at 93.13 levels. AUD/JPY edged lower as the Australian dollar lost ground versus the Japanese yen amid a slightly stronger greenback. However, in absence of significant data releases for the cross in the day ahead, the traders will now focus on US home sales data due later today for further momentum on the pair.
Moreover, the cross is well supported above the 5-DMA located at 93.09 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 93.48 (Feb 20 High) levels and above which it could extend gains to at 93.98 levels. To the downside immediate support might be located at 93.09 (5-DMA) levels below that at 92.93 (10-DMA) levels.