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AUD/JPY stages solid comeback, around 82 handle

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The AUD/JPY cross staged a solid comeback from fresh monthly lows and recovered almost one big figure from the previous close, mainly driven by yen’s profit-taking slide across the board.

    AUD/JPY receives double booster shot

    The AUD/JPY pair now jumps +1.05% to 82.05, fading a spike to 82.22 session highs. The cross in the AUD/JPY recovered almost half the previous slide and now consolidates the recovery in early Europe, awaiting fresh cues on the overall market sentiment from the European session.

    The cross rebounded in Asia this Friday, largely back a robust recovery in the USD/JPY pair as markets booked profits on their short positions heading into the weekly close. While higher Aussie in response to the rebounding oil prices also collaborated to the recovery in the prices.

    AUD/JPY Technical Levels

    To the upside, the next resistance is located at 82.52 (1h 50-SMA) and above which it could extend gains to at 82.90/83 (5-DMA/ round number).To the downside immediate support might be located 81.68/53 (1h 10 & 20-SMA) below that at 81 (psychological levels).
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