17 Feb 2015
AUD/JPY muted post RBA minutes
FXStreet (Mumbai) - AUD/JPY recovered from fresh lows post RBA minutes release and remained muted as trades assess the minutes for fresh insights on the future course of monetary policy.
Hovers around 92 handle
Currently, the AUD/JPY trades flat at 92.08 levels, having previously dipped to fresh session lows at 91.60 after the minutes released. AUD/JPY immediately recovered from lows and remained unchanged, looking for a clear direction as traders continue to digest the RBA minutes which mentioned that the exchange rate was above most estimates of fundamental value and that lower AUD/USD was required to spur country’s economic growth.
On the JPY-side of the equation, the yen remained fairly stronger versus the US dollar which is likely to restrict the upside in AUD/JPY. At the moment, AUD/USD trades slightly higher by 0.09% at 0.7779 levels, while USD/JPY declined -0.11% at 118.35 levels.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 92.42 (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.
Hovers around 92 handle
Currently, the AUD/JPY trades flat at 92.08 levels, having previously dipped to fresh session lows at 91.60 after the minutes released. AUD/JPY immediately recovered from lows and remained unchanged, looking for a clear direction as traders continue to digest the RBA minutes which mentioned that the exchange rate was above most estimates of fundamental value and that lower AUD/USD was required to spur country’s economic growth.
On the JPY-side of the equation, the yen remained fairly stronger versus the US dollar which is likely to restrict the upside in AUD/JPY. At the moment, AUD/USD trades slightly higher by 0.09% at 0.7779 levels, while USD/JPY declined -0.11% at 118.35 levels.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 92.42 (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.