27 Jul 2015
AUD/JPY better bid above 90 handle
FXStreet (Mumbai) - AUD/JPY tuned in the green and trades modestly flat in the early Asian session, halting its three back-to back session of declines, largely as a fresh bid wave caught the Australian dollar as a rebound in gold prices lends a helping hand to the Aussie.
AUD/JPY recovers from three week lows
Currently, the AUD/JPY pair trades modestly flat at fresh session highs at 90.18, bouncing-off lows at 89.92 AUD/JPY erased losses and turned in to the positive territory mainly driven by a sudden of bout of fresh buying seen in the Australian dollar as a retreat in USD bulls and a minor recovery in gold prices supported the Aussie.
However, the gains remain capped amid a strengthening yen versus the greenback, extending its upbeat momentum from Friday following dismal US economic releases.
AUD/JPY Technical Levels
To the upside, the next resistance is located 90.50 levels and above which it could extend gains 91.24 (July 24 High) levels. To the downside immediate support might be located at 89.85 (July 24 Low) below that at 89 levels.
AUD/JPY recovers from three week lows
Currently, the AUD/JPY pair trades modestly flat at fresh session highs at 90.18, bouncing-off lows at 89.92 AUD/JPY erased losses and turned in to the positive territory mainly driven by a sudden of bout of fresh buying seen in the Australian dollar as a retreat in USD bulls and a minor recovery in gold prices supported the Aussie.
However, the gains remain capped amid a strengthening yen versus the greenback, extending its upbeat momentum from Friday following dismal US economic releases.
AUD/JPY Technical Levels
To the upside, the next resistance is located 90.50 levels and above which it could extend gains 91.24 (July 24 High) levels. To the downside immediate support might be located at 89.85 (July 24 Low) below that at 89 levels.