AUD/JPY consolidates near 3-month tops above 80.00
|The cross in the AUD/JPY stalled its retreat from multi-month highs and now hovers in a narrow range above 80 handle, as markets await the European open for fresh cues on the risk sentiment.
AUD/JPY keeps 80 handle
The AUD/JPY pair, currently, trades +0.59% higher at 80.15, easing-off three-month highs reached at 80.29 in early Asia. The AUD/JPY cross pares gains, although remains strongly bid on the back of strong gains seen in the AUD/USD pair, following the release of better-than expected Australian Q3 inflation report.
Meanwhile, the latest leg lower in the cross is largely driven by the USD/JPY pair, as it turned back lower after a retest of daily highs at 104.38. Looking ahead, the cross is likely to get influenced by RO-RO trends in absence of fresh incentives until the NA session. While the US advance GDP and Japanese CPI reports are eagerly awaited for fresh take on the prices.
AUD/JPY Technical Levels
To the upside, the next resistance is located at 80.29 (multi-month highs) and above which it could extend gains to at 80.50 (psychological levels).To the downside immediate support might be located 79.45 (daily low/ 5-DMA) below that at 79.01 (20-DMA).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.