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AUD/JPY: Pressured On Monday, Holding Above ¥94

AUD

AUD/JPY was pressured in yesterday's dealing falling ~0.8%, the pair is holding above the ¥94 handle for now. Weaker-than-forecast Chinese inflation data and lower US Tsy Yields weighed on the pair yesterday.

  • The pair sits at ¥94.25/35 and now sits ~3.5% below year to date highs seen in mid-June.
  • Bears now target a break of the ¥94 handle which opens the 38.2% retracement of the Mar-Jun bull leg at ¥93.23. The 200-Day EMA comes in at ¥91.94.
  • On the upside bulls first target the 20-Day EMA (¥95.25). The high from 6 July (¥96.31) presents the next resistance level.
  • On today's docket we have June CBA Household Spending, which crosses shortly, July Westpac Consumer Confidence, June NAB Business Survey and Japan's Jun Money Stock.
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