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31 Dec 2014
AUD/JPY trades below 98 handle
FXStreet (Mumbai) - The Australian dollar resumes slide against the Japanese counterpart. However, the pair recovered partial losses from the previous session as the Aussie bulls took control against the Japanese yen.
The AUD/JPY pair trades now at 97.96 levels, down -0.12% on the day, after dropping to intraday low at 97.71 earlier in the day. The cross in AUD/JPY remains pressured as the Japanese yen continues to strengthen against the US dollar, gaining 1% on the day, knocking down AUD/JPY. Although, the renewed strength in the Australian dollar versus the greenback on the back of rising precious metals prices may limit the downside in the AUD/JPY cross.
AUD/JPY Technical Levels
To the upside, the next resistance is located at 98.28 (Dec 30 High) and above which it could extend gains to 98.39 (Dec 29 High) levels. To the downside, immediate support might be located at 97.30 (Dec 30 Low) levels and below that at 96.89 (Dec 19 Low) levels.
The AUD/JPY pair trades now at 97.96 levels, down -0.12% on the day, after dropping to intraday low at 97.71 earlier in the day. The cross in AUD/JPY remains pressured as the Japanese yen continues to strengthen against the US dollar, gaining 1% on the day, knocking down AUD/JPY. Although, the renewed strength in the Australian dollar versus the greenback on the back of rising precious metals prices may limit the downside in the AUD/JPY cross.
AUD/JPY Technical Levels
To the upside, the next resistance is located at 98.28 (Dec 30 High) and above which it could extend gains to 98.39 (Dec 29 High) levels. To the downside, immediate support might be located at 97.30 (Dec 30 Low) levels and below that at 96.89 (Dec 19 Low) levels.