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4 Feb 2015
AUD/JPY post fresh session highs; holds above 92
FXStreet (Mumbai) - AUD/JPY rebounded from yearly lows and climbed higher in the mid-Asian session as traders resorted to profit taking on their short positions after the recent RBA induced slump.
Back above 92 levels
Currently, the AUD/JPY trades higher by 0.51% on the day at 92.07 levels, having posted fresh intraday high at 92.19 levels some time ago. AUD/JPY rebounded largely on yen weakness as the Japanese currency gave away previous gains and fell versus the US dollar as risk-on environment re-emerged amid rising oil prices.
Moreover, bounce-back in the Aussie on higher commodity prices also contributed to the gains in the AUD/JPY cross.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 92.25 levels and above which it could extend gains to at 93.33 levels. To the downside immediate support might be located at 91.32 levels below that at 90.82 levels.
Back above 92 levels
Currently, the AUD/JPY trades higher by 0.51% on the day at 92.07 levels, having posted fresh intraday high at 92.19 levels some time ago. AUD/JPY rebounded largely on yen weakness as the Japanese currency gave away previous gains and fell versus the US dollar as risk-on environment re-emerged amid rising oil prices.
Moreover, bounce-back in the Aussie on higher commodity prices also contributed to the gains in the AUD/JPY cross.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 92.25 levels and above which it could extend gains to at 93.33 levels. To the downside immediate support might be located at 91.32 levels below that at 90.82 levels.