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30 Dec 2014
AUD/JPY falls below 98 handle
FXStreet (Mumbai) - The Australian dollar plunged against the Japanese counterpart in the European morning, paring gains from the previous session as the yen bulls take charge against the US dollar.
The AUD/JPY pair trades now at 97.57 levels, down -0.51% on the day, after dropping to intraday low at 97.31 earlier in the day. The cross in AUD/JPY remains pressured as the Japanese yen gathers strengths against the US dollar, gaining 1% on the day, knocking down AUD/JPY. Moreover, weakness in global equities and falling oil prices failed to lend support to the Aussie against the Japanese currency.
AUD/JPY Technical Levels
To the upside, the next resistance is located at 98.39 (Dec 29 High) and above which it could extend gains to 98.80 (Dec 11 High) levels. To the downside, immediate support might be located at 97.14 (Dec 23 Low) levels and below that at 96.89 (Dec 19 Low) levels.
The AUD/JPY pair trades now at 97.57 levels, down -0.51% on the day, after dropping to intraday low at 97.31 earlier in the day. The cross in AUD/JPY remains pressured as the Japanese yen gathers strengths against the US dollar, gaining 1% on the day, knocking down AUD/JPY. Moreover, weakness in global equities and falling oil prices failed to lend support to the Aussie against the Japanese currency.
AUD/JPY Technical Levels
To the upside, the next resistance is located at 98.39 (Dec 29 High) and above which it could extend gains to 98.80 (Dec 11 High) levels. To the downside, immediate support might be located at 97.14 (Dec 23 Low) levels and below that at 96.89 (Dec 19 Low) levels.