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Mar. 13, 2015: AUDJPY Resumes Uptrend, but Remains in Bearish Territory

The AUDJPY climbed more than 1 percent on Thursday and extended its gains into Friday’s Sydney session, as the Australian dollar benefited from a stronger than forecast employment report. However, the pair has spent the better part of seven weeks below 94.00, having broken several ascending support trend lines.

The AUDJPY was trading at 93.47 in the early Sydney session and is approaching Monday’s high of 93.60, the likely near-term resistance. On the downside, 92.35 is the key support level.

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