FxWirePro: AUD/JPY Edges Higher from 6-Month Lows at 79.53, Bias Lower

FxWirePro: AUD/JPY Edges Higher from 6-Month Lows at 79.53, Bias Lower

4 May 2016, 14:20
Roberto Jacobs
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FxWirePro: AUD/JPY Edges Higher from 6-Month Lows at 79.53, Bias Lower

  • The pair is seeing a double whammy after BoJ surprised markets last week with inaction. 
  • AUD/JPY hit fresh 6-month lows at 79.53 on Tuesday's trade and has pare some losses to currently trade at 79.90 levels. 
  • Upside in the pair was rejected at day's highs by 80.46, Techs are supportive for further downside. 
  • Resistance on the upside is seen at 80.46 (day's high till now), 80.87 (5-DMA) and then 81.62 (May 2nd highs). 
  • On the downside supports are located at 79.60 (Feb 24th lows), 79.40 (Oct 2012 lows) and then 78(Lows for the week ended June 16th 2012). 
  • Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-hits-2-month-lows-post-RBA-good-to-short-rallies-203278) has hit TP1 and is progressing. Hold for targets. 


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