Back
3 Mar 2015
AUD/JPY bounces to 93.83 as RBA keeps rates on hold
FXStreet (Mumbai) - AUD/JPY snapped its downslide and rebounded sharply from session lows after the RBA left its policy rate unchanged at a record-low 2.25%, contrary to many expectations of follow-up cut to February's.
AUD/JPY bounces-off day’s low at 92.99 levels
Currently, the AUD/JPY edged higher by 0.21% at 93.46 levels, slipping from session highs at 93.83 scored post policy announcement. AUD/JPY jumped to session highs largely on the Aussie strength after the Reserve Bank of Australia (RBA) kept interest rates at a record low, in attempts to spark demand in the investment-deprived economy.
However, the cross gave back half its RBA induced rally as a stronger yen on impressive cash earnings data continues to weigh on AUD/JPY. Moreover, traders may now assess the RBA’s monetary policy which may further direct the moves in the cross.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 93.83 (50-DMA) levels and above which it could extend gains to at 94.14 levels. To the downside immediate support might be located at 92.94 (20-DMA) levels below that at 92.38 levels.
AUD/JPY bounces-off day’s low at 92.99 levels
Currently, the AUD/JPY edged higher by 0.21% at 93.46 levels, slipping from session highs at 93.83 scored post policy announcement. AUD/JPY jumped to session highs largely on the Aussie strength after the Reserve Bank of Australia (RBA) kept interest rates at a record low, in attempts to spark demand in the investment-deprived economy.
However, the cross gave back half its RBA induced rally as a stronger yen on impressive cash earnings data continues to weigh on AUD/JPY. Moreover, traders may now assess the RBA’s monetary policy which may further direct the moves in the cross.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 93.83 (50-DMA) levels and above which it could extend gains to at 94.14 levels. To the downside immediate support might be located at 92.94 (20-DMA) levels below that at 92.38 levels.