24 Mar 2015
AUD/JPY keeps losses below 94
FXStreet (Mumbai) - AUD/JPY recovered partial losses in the mid-Asian session and wavers around 94 handle, as the Australian dollar was sold-off versus the yen after factory data from Australia’s largest importer China signalled softer activity this month.
AUD/JPY recovers from 93.86
Currently, the AUD/JPY cross traded lower by -0.41% at 93.96 levels, witnessing a sharp recovery from 93.86 levels reached post the release of China data. The cross in AUD/JPY came under pressure largely after the Australian dollar dropped 50 pips versus the US dollar shortly after a report indicated that Chinese manufacturing activity was at an 11-month low in March.
Moreover, falling copper and crude prices also added to the losses in AUD/JPY. On the other hand, a flattish USD/JPY as the news that Japanese Cabinet office upgraded the country’s economic outlook offsets broad based US dollar recovery.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 94.42 and above which it could extend gains to at 94.66 levels. To the downside immediate support might be located at 93.86 levels below that at 93.08 levels.
AUD/JPY recovers from 93.86
Currently, the AUD/JPY cross traded lower by -0.41% at 93.96 levels, witnessing a sharp recovery from 93.86 levels reached post the release of China data. The cross in AUD/JPY came under pressure largely after the Australian dollar dropped 50 pips versus the US dollar shortly after a report indicated that Chinese manufacturing activity was at an 11-month low in March.
Moreover, falling copper and crude prices also added to the losses in AUD/JPY. On the other hand, a flattish USD/JPY as the news that Japanese Cabinet office upgraded the country’s economic outlook offsets broad based US dollar recovery.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 94.42 and above which it could extend gains to at 94.66 levels. To the downside immediate support might be located at 93.86 levels below that at 93.08 levels.