16 Apr 2014
AUD/JPY recovers from 2-week lows
FXStreet (Córdoba) - The AUD/JPY finished lower on Tuesday, having the worst day in almost a month but it was able to close above 95.00, far from the lows. After opening Tuesday near 96.00 the Aussie lost momentum and started to moved to the downside.
Price bottomed at the beginning of the American session at 94.82 amid a weak Aussie across the board, and reached the lowest price since March 31. Afterwards rebounded and rose back above 95.00. The recovery from 2-week lows found resistance below 95.50. Currently the AUD/JPY is trading at 95.30, less than 10 pips below the price it opened the current week.
Levels to watch for the AUD/JPY
To the upside, immediate resistance lies at 95.50 and above here at 95.70; followed by the important 96.00 zone. To the downside immediate support could be located at 95.00 and below at 95.80 (April 15 lows) and 95.55.
Price bottomed at the beginning of the American session at 94.82 amid a weak Aussie across the board, and reached the lowest price since March 31. Afterwards rebounded and rose back above 95.00. The recovery from 2-week lows found resistance below 95.50. Currently the AUD/JPY is trading at 95.30, less than 10 pips below the price it opened the current week.
Levels to watch for the AUD/JPY
To the upside, immediate resistance lies at 95.50 and above here at 95.70; followed by the important 96.00 zone. To the downside immediate support could be located at 95.00 and below at 95.80 (April 15 lows) and 95.55.