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26 Feb 2015
AUD/JPY slips with weak Oz Capex data
FXStreet (Mumbai) - AUD/JPY retreated from close to four week highs and edged lower in the mid-Asian session, largely on the back of a weaker Australian dollar after poor Australian capex data disappointed markets.
AUD/JPY supported above 5-DMA at 93.30 levels
Currently, the AUD/JPY trades lower by -0.28% at 93.47 levels, recovering slightly from session lows previously posted at 93.32. AUD/JPY came under pressure after downbeat Aus private investment levels in Q4 2014 raised expectations of another rate cut from the RBA at next week's meeting, dragging the Aussie lower. However, the losses in the cross remained restricted on a weaker yen across the board.
Meanwhile, the cross is well supported above the 5-DMA located at 93.30 levels. Hence, an overall intraday upside bias is likely to remain for AUD/JPY until the support is breached.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 93.97 (Feb 25 High) levels and above which it could extend gains to at 94.18 (50-DMA) levels. To the downside immediate support might be located at 93.30 (5-DMA) levels below that at 93.07 (10-DMA) levels.
AUD/JPY supported above 5-DMA at 93.30 levels
Currently, the AUD/JPY trades lower by -0.28% at 93.47 levels, recovering slightly from session lows previously posted at 93.32. AUD/JPY came under pressure after downbeat Aus private investment levels in Q4 2014 raised expectations of another rate cut from the RBA at next week's meeting, dragging the Aussie lower. However, the losses in the cross remained restricted on a weaker yen across the board.
Meanwhile, the cross is well supported above the 5-DMA located at 93.30 levels. Hence, an overall intraday upside bias is likely to remain for AUD/JPY until the support is breached.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 93.97 (Feb 25 High) levels and above which it could extend gains to at 94.18 (50-DMA) levels. To the downside immediate support might be located at 93.30 (5-DMA) levels below that at 93.07 (10-DMA) levels.