AUD/JPY Resumes Decline as Yen Picks-up Pace
The AUD/JPY cross
resumed its downward trajectory in Asia this Thursday, largely driven
by the yen rises amid talks of fx market intervention by BOJ.
AUD/JPY recovers to 83 handle
The
AUD/JPY pair now drops -0.43% to 83.05, recovering slightly from near
fresh five-week lows reached at 82.85. The cross in the AUD/JPY fell
back in the red, reversing a temporary rise seen in the previous
session, as the yen fought back control and now continues to surge
against its American counterpart, despite a rebound in the oil prices.
Over
the last hour, the cross is seen making minor recovery attempt on the
83 handle, thanks to the renewed rally in the AUD/USD, as the Aussie
continues to track oil prices higher.
Next on the tap for the
cross remains the US jobless claims data, while headlines from Japan
official will be closely monitored for any cues on the exchange rate
level.
AUD/JPY Technical Levels
To the
upside, the next resistance is located at 84 (round number) and above
which it could extend gains to at 84.64 (Apr 5 high/ 100-DMA).To the
downside immediate support might be located 82.81 (1-month low) below
that at 82.59/50 (Mar 3 Low/ psychological levels).
(Market News Provided by FXstreet)
