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AUD/JPY: Resistance Above ¥95 Handle

AUD

AUD/JPY firmed through yesterday's session briefly extending gains post US GDP, printing its highest level since Aug 1, before meeting resistance above the ¥95 handle and ticking away from session highs into the close.

  • The pair is a touch below opening levels in early dealing and sits at ¥94.60/65.
  • On the upside bulls first 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 is on the 20-Day EMA (¥94.13). A break through here opens the 200-Day EMA (¥92.64) and the post BOJ low from July (¥91.80).
  • On the wires this morning we have Japan's July Retail Sales and the preliminary print of Industrial Production. From Australia we have Q2 CapEx and Jul Private Sector Credit.

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