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AUD/JPY: 96.00 remains hard nut to crack

FXStreet (Bali) - AUD/JPY found a temporary bottom ahead of 95.00 on Tuesday, with the latest relief rally testing offers at the 96.00 mark, where sellers still hold the line, with the exchange rate currently at 95.80.

A substantial increase in order flow is about to be injected, with two top tier events being published in the coming hours. Firstly, the Chinese official PMI at 1 GMT, ahead of the Australian sales number at 1.30 GMT.

Technically, bulls should regain the 96.10 area, so that it can be taken as support reference. If that happens to be the case, 96.40/50 should be the next hurdle to the upside ahead of a potential acceleration towards 96.90/97.00. On the downside, weakness should see bids clustered at 95.50/60, ahead of 95.00/95.20.

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