27 Feb 2015
AUD/JPY strongly bid above 93 handle
FXStreet (Mumbai) - AUD/JPY recovers from three day lows and edged higher in the mid-European session mainly driven by a strong recovery in the Australian dollar on higher oil prices.
AUD/JPY trades above 5-DMA
Currently, the AUD/JPY trades higher by 0.22% at 93.37 levels, having posted fresh session highs at 93.40 some minutes ago. AUD/JPY bounced-back sharply above 93 levels after the Aussie regained lost ground across the board. Moreover, retreating yen versus the US dollar further added to the gains in AUD/JPY.
Meanwhile, an overall generalized intraday upside bias persists as long as the cross holds above 20-DMA located at 92.77 levels
AUD/JPY Levels to consider
To the upside, the next resistance is located at 94.09 (50-DMA) levels and above which it could extend gains to at 94.66 levels. To the downside immediate support might be located at 92.77 (20-DMA) levels below that at 92.43 levels.
AUD/JPY trades above 5-DMA
Currently, the AUD/JPY trades higher by 0.22% at 93.37 levels, having posted fresh session highs at 93.40 some minutes ago. AUD/JPY bounced-back sharply above 93 levels after the Aussie regained lost ground across the board. Moreover, retreating yen versus the US dollar further added to the gains in AUD/JPY.
Meanwhile, an overall generalized intraday upside bias persists as long as the cross holds above 20-DMA located at 92.77 levels
AUD/JPY Levels to consider
To the upside, the next resistance is located at 94.09 (50-DMA) levels and above which it could extend gains to at 94.66 levels. To the downside immediate support might be located at 92.77 (20-DMA) levels below that at 92.43 levels.