19 Feb 2015
AUD/JPY fighting for 93 handle
FXStreet (Mumbai) - AUD/JPY advanced to fresh daily highs in the Asian session, resuming its uptrend after a brief reversal seen in the previous session, largely on the Aussie strength.
AUD/JPY supported above 5-DMA
Currently, the AUD/JPY trades higher by 0.17% at 92.93 levels, retreating from fresh session highs posted at 92.99 levels, just shy of the 93 threshold. AUD/JPY edged higher as the Australian dollar outperformed its Japanese counterpart amid a broad based greenback weakness. However, the upside is likely to remain capped as the yen held firm against the US dollar on upbeat Japanese exports data which surged 17% y/y in January after rising 12.9% in December, coming in stronger than the market forecasts of 13.5%.
Moreover, the cross is well supported above the 5-DMA located at 92.64 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 93.33 levels and above which it could extend gains to at 93.98 levels. To the downside immediate support might be located at 92.64 (5-DMA) levels below that at 92.10 (10-DMA) levels.
AUD/JPY supported above 5-DMA
Currently, the AUD/JPY trades higher by 0.17% at 92.93 levels, retreating from fresh session highs posted at 92.99 levels, just shy of the 93 threshold. AUD/JPY edged higher as the Australian dollar outperformed its Japanese counterpart amid a broad based greenback weakness. However, the upside is likely to remain capped as the yen held firm against the US dollar on upbeat Japanese exports data which surged 17% y/y in January after rising 12.9% in December, coming in stronger than the market forecasts of 13.5%.
Moreover, the cross is well supported above the 5-DMA located at 92.64 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 93.33 levels and above which it could extend gains to at 93.98 levels. To the downside immediate support might be located at 92.64 (5-DMA) levels below that at 92.10 (10-DMA) levels.