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AUD/JPY: Breaches ¥95 Handle

AUD

AUD/JPY marginally extended recent falls on Wednesday, the pair has breached the ¥95 handle and sits a touch above the 20-Day EMA (94.90) in early dealing on Thursday.

  • Rising US Tsy Yields and waning risk sentiment have weighed on AUD/JPY, we now sit ~1.3% below the high from Sep 20.
  • On the downside bears immediate focus is to break the 20-Day EMA (¥94.90). This opens the low from 5 Sep at ¥93.59 and the 200-Day EMA (¥93.05).
  • Despite the trimming of recent gains the uptrend does remain intact. Bulls target the high from 20 Sep (¥96.02), a break through here opens the high from 5 July (¥96.83) and YTD highs (¥97.68).
  • On tap today we have Aug Job Vacancies and Retail Sales from Australia. Tomorrow we get a slew of Japanese data including Tokyo CPI, Retail Sales and Jobless Rate.
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