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15 Dec 2014
AUD/JPY faces stiff resistance at 50-day SMA
FXStreet (Mumbai) - The Australian dollar failed to sustain gains against the Japanese yen today after the report released by the Australian government raised concerns over the health of the economy.
The AUD/JPY pair trades at 97.67 levels, down -0.28%, compared to previous session’s close of 97.01. The Australian dollar lost ground against the yen after the Australian government released estimates which showed expanding budget deficit and poor labour market conditions. The AUD/JPY pair also remains under pressure after the US dollar strengthened against the Aussie, dragging down AUD/USD close to 4 year lows. The AUD/USD pair now trades at 0.8224 levels, down -0.25% on the day.
AUD/JPY Technical Levels
The pair has an immediate resistance at 98.01 (50-day SMA) levels, above which gains could be extended to 98.48 (Dec 12 High) levels. On the flip side, support is seen at 96.86 (Dec 14 Low), from here it to 96 levels.
The AUD/JPY pair trades at 97.67 levels, down -0.28%, compared to previous session’s close of 97.01. The Australian dollar lost ground against the yen after the Australian government released estimates which showed expanding budget deficit and poor labour market conditions. The AUD/JPY pair also remains under pressure after the US dollar strengthened against the Aussie, dragging down AUD/USD close to 4 year lows. The AUD/USD pair now trades at 0.8224 levels, down -0.25% on the day.
AUD/JPY Technical Levels
The pair has an immediate resistance at 98.01 (50-day SMA) levels, above which gains could be extended to 98.48 (Dec 12 High) levels. On the flip side, support is seen at 96.86 (Dec 14 Low), from here it to 96 levels.