17 Aug 2015
AUD/JPY bullish but limited by 92.50
FXStreet (Córdoba) - The aussie is about end the day slightly higher against the Japanese yen on Monday, as it remains sideways in a small range between 92.00 and 91.45. Commodity currencies recovered ground across the board and were there best performers, rising at a modest pace.
AUD/JPY outlook
The 4-hour chart shows the pair with a bullish bias, holding above an uptrend line, as it attempts to recover after approaching again to the key long-term support area located between 89.00 and 90.00.
The bearish pressure could intensify if AUD/JPY drops below 91.00 but only a consolidation under 89.00 could open the doors for more losses. On the opposite direction, since July the 92.50 zone capped the upside. The aussie continues to trade near the mentioned level, a break higher could trigger a rally. Above 92.70 resistance levels lie at 93.20, 93.50 and 94.50.
AUD/JPY outlook
The 4-hour chart shows the pair with a bullish bias, holding above an uptrend line, as it attempts to recover after approaching again to the key long-term support area located between 89.00 and 90.00.
The bearish pressure could intensify if AUD/JPY drops below 91.00 but only a consolidation under 89.00 could open the doors for more losses. On the opposite direction, since July the 92.50 zone capped the upside. The aussie continues to trade near the mentioned level, a break higher could trigger a rally. Above 92.70 resistance levels lie at 93.20, 93.50 and 94.50.