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AUD/JPY: Holding Above ¥97

AUD

AUD/JPY has held above the ¥97 handle in recent dealing as buoyant US Equities aid risk sentiment adding a level of support.

  • The cross sits little changed from opening levels at ¥97.25/30.
  • Despite ticking away from last week's cycle highs the uptrend remains intact. Bulls focus on breaking 16 Nov high (¥98.62). This opens the ¥100 handle, Dec 2014 highs (¥101.37) and Nov 2014 highs (¥102.85).
  • On the downside bears target the 23.6% retracement of the Jul-Nov bull leg which intersects at the ¥97 handle, the 20-Day EMA (¥96.76) and the 100-Day EMA (¥95.07). The 200-Day EMA comes in at ¥93.98.

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