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28 Jan 2015
AUD/JPY jumps to fresh session highs
FXStreet (Mumbai) - The Australian dollar jumped to fresh session highs versus the Japanese yen in the Asian hours, after better than forecast Australian inflation print underpinned the Aussie.
Currently, the AUD/JPY pair traded at 94.39 up 0.92% on the day, close to fresh daily highs posted at 94.47 few minutes ago. The cross in AUD/JPY jumped about 1% after the trimmed mean CPI measure came in above expectations, rising 0.7% compared with the forecast 0.5% rise. The rising inflation numbers reduced speculations that the Reserve Bank of Australia (RBA) may go for a rate cut this year in a bid to spur Oz economic growth.
Meanwhile, yen gave away previous gains versus the US dollar as the USD bulls jumped back into the bid ahead of US FOMC statement due out later in the day.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 94.80 levels and above which it could extend gains to at 95.42 levels. To the downside immediate support might be located at 93.25 levels below that at 92.49 levels.
Currently, the AUD/JPY pair traded at 94.39 up 0.92% on the day, close to fresh daily highs posted at 94.47 few minutes ago. The cross in AUD/JPY jumped about 1% after the trimmed mean CPI measure came in above expectations, rising 0.7% compared with the forecast 0.5% rise. The rising inflation numbers reduced speculations that the Reserve Bank of Australia (RBA) may go for a rate cut this year in a bid to spur Oz economic growth.
Meanwhile, yen gave away previous gains versus the US dollar as the USD bulls jumped back into the bid ahead of US FOMC statement due out later in the day.
AUD/JPY Levels to consider
To the upside, the next resistance is located at 94.80 levels and above which it could extend gains to at 95.42 levels. To the downside immediate support might be located at 93.25 levels below that at 92.49 levels.