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AUD/JPY: Pressured On Wednesday, Below ¥95 Handle

AUD

AUD/JPY was pressured on Wednesday breaching its 20-Day EMA (¥95.05) and falling below the ¥95 handle. Support for the pair came in at ¥94.50 and losses were marginally pared.

  • The pair finished Wednesdays dealing down ~1% and is sitting at ¥94.85/95 in early dealing on Thursday.
  • On the downside bears target yesterday's low (¥94.44) which opens the low from 12 July (¥93.27) and the 200-Day EMA (¥92.33).
  • Bulls immediate focus is on the 20-Day EMA (¥95.05). A break of yesterday's high (¥95.90) opens the high from 5 July (¥96.83).
  • The local dockets are thin today, the next major risk event is tomorrow's BOJ monetary policy decision. No change to policy is expected.

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