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AUD/JPY: Consolidating Above ¥94, Australian Jobs Data On Tap

AUD

The pair has observed narrow ranges in recent dealing and is consolidating above ¥94 handle.

  • AUD/JPY last prints at ¥94.45/55 and is a touch softer in early dealing. The cross sits ~3% below mid June highs.
  • On the upside bulls first target a break of the 20-Day EMA (¥94.90), this opens up the high from 6 July (¥96.31) and year to date highs (¥97.68).
  • Bears look to break the ¥94 handle, from here they look to target the low from 12 July (¥93.27) and the 200-Day EMA (¥92.16).
  • On the wires shortly we have June Trade Balance from Japan, a deficit of ¥46.7bn is expected. Further out today's highlight is the June Labour Market Report from Australia, a jobs gain of 15.0k is expected with the unemployment rate holding steady at 3.6%.
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