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5 Jan 2015
AUD/JPY drops to fresh 3-Week Lows, support at 200-DMA
FXStreet (Mumbai) - The Australian dollar tanked versus the Japanese yen in the early European morning, continuing its losing streak for the third straight session on Aussie weakness.
Currently, the AUD/JPY pair trades at 96.90 levels, down -0.61% on the day, bouncing off from a fresh three week low of 96.83 levels hit couple of hours ago. The cross in AUD/JPY continues to slide largely on the back of weakness seen in the Australian dollar. The AUD/JPY cross remains pressured as AUD/USD trades close fresh five and a half year low at 0.8046 levels, down -0.56% on the day. While, USD/JPY traded flat at 120.42, at time of writing.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 97 levels and above which it could extend gains to at 97.55 (Jan 4 High) levels. To the downside immediate support might be located at 96.66 (200-DMA) levels below that at 96.21 (Dec 18 Low) levels.
Currently, the AUD/JPY pair trades at 96.90 levels, down -0.61% on the day, bouncing off from a fresh three week low of 96.83 levels hit couple of hours ago. The cross in AUD/JPY continues to slide largely on the back of weakness seen in the Australian dollar. The AUD/JPY cross remains pressured as AUD/USD trades close fresh five and a half year low at 0.8046 levels, down -0.56% on the day. While, USD/JPY traded flat at 120.42, at time of writing.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 97 levels and above which it could extend gains to at 97.55 (Jan 4 High) levels. To the downside immediate support might be located at 96.66 (200-DMA) levels below that at 96.21 (Dec 18 Low) levels.