AUD/JPY Ends a 3-Day Slide, Near 50-DMA
The bid tone surrounding AUD/JPY weakened a bit ahead of European open, as the AUD bulls took a beating after the risk sentiment came under mild pressure.
AUD/JPY regains 83 and beyond
The
AUD/JPY pair now advances 0.29% to 83.47, retreating from session highs
printed at 83.67 in early Asia. The cross in the AUD/JPY halted its
3-day losing streak and jumped back on the bids amid a solid rebound
staged by the AUD/USD pair. While the yen remained on the back foot
against the US dollar as expectations of more BOJ intervention
heightened to curb a strong domestic currency.
However, the
recovery lost steam just ahead of daily R3 and drifted lower as the
rebound in the Asian equities faded and weighed once again on the
investors’ sentiment. Next on tap for the cross, remains the RBA
assistant governor Kent’s speech ahead of the key FOMC minutes.
AUD/JPY Technical Levels
To
the upside, the next resistance is located at 84.64/69 (Apr 5 high/
100-DMA) and above which it could extend gains to at 85.04 (20-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)
