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AUD/JPY popping onto the 94 handle

FXStreet (Barcelona) - AUD/JPY is trading at 94.02, down -0.03% on the day, having posted a daily high at 94.12 and low at 93.80.

AUD/JPY has popped up onto the 94 handle and rides the latest set of positive data from the Chinese economy. The positive news this time around which accompanies the Industrial Production and GDP was the HSBC Manufacturing PMI that read 50.4 vs 50.2 expected and 50.2 previous. Nevertheless, we are still contained within the sideways channel and this is just a test of the resistance. The pair remains in negative territory until a convincing break of the 95 handle is achieved and while below 96.58, the pair will offer a neutral potion.

AUD/JPY noteworthy levels

Current price is 94.03, with resistance ahead at 94.06 (Daily Open), 94.07 (Daily Classic PP), 94.12 (Daily High), 94.57 (Daily Classic R1) and 94.58 (Daily 20 SMA). Next support to the downside can be found at 94.01 (Hourly 20 EMA), 93.95 (Weekly High), 93.80 (Daily Low), 93.80 (Hourly 100 SMA) and 93.63 (Hourly 200 SMA).

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