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AUD/JPY: Highest In Two Weeks, Australian Labor Data On Tap

AUD

AUD/JPY printed its highest level in two weeks in the aftermath of yesterday's US CPI report, resistance was seen ahead of the ¥95 handle and gains were pared into the close.

  • In early dealing on Thursday the cross sits at ¥94.60/65.
  • Technically we remain in an uptrend, bulls look to target the high from 30 Aug (¥95.06), a break through here opens the high from 26 July (¥95.90) and YTD highs (¥97.68).
  • Bear's immediate focus remains on the 20-Day EMA (¥94.29). A break through here opens the low from 5 Sep at ¥93.59 and the 200-Day EMA (¥92.80).
  • On tap today we have the August Australian Labor Market Report, the headline unemployment rate is expected to hold steady at 3.7%.
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