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27 Feb 2015
AUD/JPY fighting for 93 handle
FXStreet (Mumbai) - AUD/JPY bounces-off lows and recovers partial losses in the mid-Asian session largely on the back of a broad based recovery seen in the Australian dollar.
AUD/JPY rises from 92.73 levels
Currently, the AUD/JPY trades lower by -0.20% at 93.47 levels, retreating from session lows previously posted at 92.73. AUD/JPY trimmed losses and recovered slightly to retest 93 barrier after having slipped on Aussie strength. The losses in the cross were also accelerated by a stronger yen after upbeat Japanese industrial production numbers showing that industrial output grew fastest in 3-1/2 years.
However, a broadly weaker US dollar limited the downside in AUD/JPY as the Aussie recovered partial losses. Meanwhile, the cross remains well supported above the 20-DMA located at 92.75 levels.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 93.15 (5-DMA) levels and above which it could extend gains to at 94.08 (50-DMA) levels. To the downside immediate support might be located at 92.75 (20-DMA) levels below that at 92.43 levels.
AUD/JPY rises from 92.73 levels
Currently, the AUD/JPY trades lower by -0.20% at 93.47 levels, retreating from session lows previously posted at 92.73. AUD/JPY trimmed losses and recovered slightly to retest 93 barrier after having slipped on Aussie strength. The losses in the cross were also accelerated by a stronger yen after upbeat Japanese industrial production numbers showing that industrial output grew fastest in 3-1/2 years.
However, a broadly weaker US dollar limited the downside in AUD/JPY as the Aussie recovered partial losses. Meanwhile, the cross remains well supported above the 20-DMA located at 92.75 levels.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 93.15 (5-DMA) levels and above which it could extend gains to at 94.08 (50-DMA) levels. To the downside immediate support might be located at 92.75 (20-DMA) levels below that at 92.43 levels.