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AUD/JPY awaits further impetus from RBA/NFP’s

FXStreet (Guatemala) - AUD/JPY is trading at 98.70, up 0.09% on the day, having posted a daily high at 98.74 and low at 98.53.

AUD/JPY has met further resistance at 98.75 on its ascent from the mid point of the handle on a number of surges higher on the 4hr chart from the lows of 98.25. The pair dropped from current levels and this has paired back the losses on the previous session while the yen is put back its place due to good performances in shares and stock markets in Europe and NY.

The RBS quarterly monetary policy statement is due today, and the inflation outcome is expected to be right on target 2-3%. We will likely get the usual commodity prices vs value of Aussie counteraction comment so any optimism on growth might be diluted there. Ears pinned for housing market commentary and value of the Aussie. We will then be awaiting the ">Nonfarm payrolls from the US which could aid the value of the Aussie if it is a surprisingly good number putting liquidity into the market ahead of the weeks close.

AUD/JPY noteworthy levels

Spot is presently trading at 98.71, and next resistance can be seen at 98.74 (Daily High), 98.83 (Hourly 100 SMA), 98.86 (Daily Classic PP), 98.89 and 99.32 (Monthly High). Support below can be found at 98.60 (Hourly 20 EMA), 98.53 (Daily Low), 98.05 (Yesterday's Low) and 97.98 (Daily Classic S1).

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