AUD/JPY side-lined below 85.00, Healthcare vote eyed

Dhwani Mehta FXStreet

The AUD/JPY cross is seen clinging onto recovery gains, although failed to hold above 85 handle as losses in the AUD/USD pair limits the upside.

The commodity-linked Aussie remains on the offers, despite risk-on rally in the Asian equities, as the entire base metals complex remains under pressure. Moreover, the recovery remains capped as the bulls take a breather before the US House vote on the Healthcare plan.

Meanwhile, a solid comeback staged by the USD/JPY pair helps keep the sentiment underpinned around AUD/JPY. Looking ahead, the cross now awaits the US macro news and FOMC member Evans’ speech for further momentum.

Technical Levels

Higher side: 85.90/86 (100-DMA/ zero figure), 86.50 (50-DMA/ psychological levels), 87 (round number)

Lower side: 85 (key support), 84.49/47 (Jan 5 & 6 lows), 84.02 (multi-week lows)

1. R3 86.38
2. R2 85.95
3. R1 85.29
PP 84.85
1. S1 84.19
2. S2 83.75
3. S3 83.09

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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