30 Jan 2015
AUD/JPY stays close to 10-month lows
FXStreet (Mumbai) - The Australian dollar traded modestly flat against the Japanese yen in the Asian hours, as the Japanese yen remains underpinned by cheerful employment numbers.
AUD/JPY back below 92
Currently, the AUD/JPY pair traded flat at 91.89, retreating from daily highs previously posted at 92.11. The cross in AUD/JPY extended losses for the fourth straight session amid increased bets that the Reserve Bank of Australia (RBA) may go for a rate cut this year in a bid to spur Oz economic growth.
Moreover, upbeat Japanese labour data showing the availability of jobs in Japan rose to the highest level in more than two decades and the jobless rate fell in December added to the strength in the yen and dragged the cross lower.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 92.11 levels and above which it could extend gains to at 93.33 levels. To the downside immediate support might be located at 91.58 levels below that at 91.32 levels.
AUD/JPY back below 92
Currently, the AUD/JPY pair traded flat at 91.89, retreating from daily highs previously posted at 92.11. The cross in AUD/JPY extended losses for the fourth straight session amid increased bets that the Reserve Bank of Australia (RBA) may go for a rate cut this year in a bid to spur Oz economic growth.
Moreover, upbeat Japanese labour data showing the availability of jobs in Japan rose to the highest level in more than two decades and the jobless rate fell in December added to the strength in the yen and dragged the cross lower.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 92.11 levels and above which it could extend gains to at 93.33 levels. To the downside immediate support might be located at 91.58 levels below that at 91.32 levels.