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AUD/JPY taking out stops and on towards S1

FXStreet (Barcelona) - AUD/JPY is trading at 94.22, down -0.66% on the day, having posted a daily high at 94.92 and low at 94.12.

AUD/JPY has dumped and gone against the theme of overnight where the Japanese currency was abused on the back of a stronger dollar and strong US stocks. This has been quite a move in the yen and it is mirrored across the board of crosses. USD/JPY is holding up currently as bids come in to pick up some cheap greenbacks ahead of what could be a volatile weak with the FOMC lined up but still sentiment coming with a bullish bias in favour of the US dollar. For the cross, the 94.12 and S1 is a major support ahead of S3 at 93.40 and S3 for the figure 93.00. Trading for now remains below the pivot. Worth noting also here , that Japan's 5 year yields have fallen to 0.12% and the lowest since March 2013.

AUD/JPY noteworthy levels

With spot trading at 94.23, we can see next resistance ahead at 94.54 (Daily Classic PP), 94.57 (Hourly 20 EMA), 94.61 (Daily 20 SMA), 94.64 (Daily 200 SMA) and 94.74 (Weekly Classic R1). Support below can be found at 94.12 (Daily Low), 94.12 (Daily Classic S1), 94.08 (Hourly 100 SMA), 94.06 (Weekly High) and 93.80 (Yesterday's Low).

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