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AUD/JPY well placed in the bid towards 101.00

FXStreet (Guatemala) - AUD/JPY is trading at 100.74, up 0.31% on the day, having posted a daily high at 100.87 and low at 100.06.

AUD/JPY is holding onto the upper end of the 100 handle with conviction and is testing the 1100.80 resistance for the second time this week. The Aussie has been supported by positive domestic data of late and extra liquidity in the market place on the back of improved investor risk apatite. This coupled with the recent events in Japans parliament, adjustments to timings of the sales tax hike and aggressiveness towards a lower Yen and QQE, the pair is fundamentally well placed on the bid.

AUD/JPY noteworthy levels

Current price is 100.75, with resistance ahead at 100.87, 100.98 (Daily Classic R1), 101.45 (Weekly Classic R3), 101.52 (Daily Classic R2) and 102.55 (Daily Classic R3). Next support to the downside can be found at 100.59 (Weekly Classic R2) and 100.00.

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