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31 Mar 2014
AUD/JPY hovering near multi-months highs
FXStreet (Córdoba) - After posting on Friday the seventh daily gain in a row and the highest close since October 2013, the AUD/JPY opened Monday trading above 95.00, testing last week highs that are located around 95.25.
Technical outlook for the AUD/JPY
The pair continues to move with an upside bias, with support above an uptrend line in the hourly chart that currently stands around 94.50. Before the mentioned level, price could find support at 95.00 and below here at 94.70.
Some technical indicators show overbought levels but momentum is still favoring the Aussie. Immediate resistance lies at 95.25 (daily high) and above here at 95.65/70 (October 22, 23 high).
Technical outlook for the AUD/JPY
The pair continues to move with an upside bias, with support above an uptrend line in the hourly chart that currently stands around 94.50. Before the mentioned level, price could find support at 95.00 and below here at 94.70.
Some technical indicators show overbought levels but momentum is still favoring the Aussie. Immediate resistance lies at 95.25 (daily high) and above here at 95.65/70 (October 22, 23 high).