20 Jan 2015
AUD/JPY trades above 200-DMA
The AUD/JPY pair rose above the 200-DMA located at 96.75 levels after an upbeat Chinese data supported the Aussie, while the Yen weakened on gains in the equities across Asia.
The pair traded 0.46% higher at 96.99 levels, compared to the previous session’s close at 96.54 levels. The AUD/USD pair clocked a day high of 0.8214 after the data in China showed fourth quarter GDP rose 7.3%, industrial production gained 7.9% in December and retail sales increased 11.9%, all beating expectations. However, the AUD/USD pair eventually fell into losses as the full year Chinese GDP rose at the slowest pace in 24 years at 7.4%.
Meanwhile, the Asian equities strengthened, with the Nikkei up 2.3%, the Hang Seng up 0.88%. Chinese equities gained 1.37 %, while the Australian equities gained 0.29%. Consequently, the USD/JPY pair gained 0.76%, thereby pushing the AUD/JPY cross above the 200-DMA level.
AUD/JPY Technical Levels
The immediate resistance is located at 97.49 (100-DMA), above which gains could be extended to 98.05 (50-DMA) levels. Meanwhile, support is seen at 96.74 (200-DMA) and 96.48 (10-DMA) levels.
The pair traded 0.46% higher at 96.99 levels, compared to the previous session’s close at 96.54 levels. The AUD/USD pair clocked a day high of 0.8214 after the data in China showed fourth quarter GDP rose 7.3%, industrial production gained 7.9% in December and retail sales increased 11.9%, all beating expectations. However, the AUD/USD pair eventually fell into losses as the full year Chinese GDP rose at the slowest pace in 24 years at 7.4%.
Meanwhile, the Asian equities strengthened, with the Nikkei up 2.3%, the Hang Seng up 0.88%. Chinese equities gained 1.37 %, while the Australian equities gained 0.29%. Consequently, the USD/JPY pair gained 0.76%, thereby pushing the AUD/JPY cross above the 200-DMA level.
AUD/JPY Technical Levels
The immediate resistance is located at 97.49 (100-DMA), above which gains could be extended to 98.05 (50-DMA) levels. Meanwhile, support is seen at 96.74 (200-DMA) and 96.48 (10-DMA) levels.