16 Feb 2015
AUD/JPY consolidates above 92 handle
FXStreet (Mumbai) - AUD/JPY edged higher in the late Asian session, extending its side trend for the second straight session as the cross seeks for fresh directions ahead of RBA’s policy minutes and Bank of Japan’s monetary policy due later in this week.
Faces stiff resistance at 92.40 levels
Currently, the AUD/JPY trades higher by 0.25% on the day, at 92.27 levels, having previously posted day’s lows at 92.11 and day’s high at 92.40 levels. AUD/JPY continues its accumulation phase and remains buoyed largely on the Aussie strength as traders now focus on RBA’s latest meetings’ minutes for fresh incentives. However, the gains remained capped as the yen continues its upside momentum versus the greenback on upbeat Japan’s growth data and ahead of BOJ’s rate decision in the week ahead.
Meanwhile, a general intraday upside persists so long as the cross holds above 92.11 levels. At the moment, AUD/USD trades higher by 0.36% at 0.7785 levels, while USD/JPY declined -0.20% at 118.51 levels.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 92.40 (20-DMA) levels and above which it could extend gains to at 93.09 levels. To the downside immediate support might be located at 92 levels below that at 91.53 levels.
Faces stiff resistance at 92.40 levels
Currently, the AUD/JPY trades higher by 0.25% on the day, at 92.27 levels, having previously posted day’s lows at 92.11 and day’s high at 92.40 levels. AUD/JPY continues its accumulation phase and remains buoyed largely on the Aussie strength as traders now focus on RBA’s latest meetings’ minutes for fresh incentives. However, the gains remained capped as the yen continues its upside momentum versus the greenback on upbeat Japan’s growth data and ahead of BOJ’s rate decision in the week ahead.
Meanwhile, a general intraday upside persists so long as the cross holds above 92.11 levels. At the moment, AUD/USD trades higher by 0.36% at 0.7785 levels, while USD/JPY declined -0.20% at 118.51 levels.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 92.40 (20-DMA) levels and above which it could extend gains to at 93.09 levels. To the downside immediate support might be located at 92 levels below that at 91.53 levels.