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AUD/JPY testing 102 to the downside

FXStreet (Guatemala) - AUD/JPY is trading at 101.98, up 0.18% on the day, having posted a daily high at 102.43 and low at 101.95.

AUD/JPY is testing the 102 handle with a move in the USD/JPY to the downside post Japans GDP results. The major was heavily bid prior to the release and whether a heavy sell order was executed in thin markets or whether a collective effort in the buy the rumor sell the fact was in place, nevertheless that cross has held up reasonably well and stubborn on the 102 handle. The GDP results were -0.4% vs 0.5% expected and -1.9% previous and annualized -1.6% vs 2.1% expected vs -7.3% previous. The week ahead for the pair will be busy with both RBA minutes and the BoJ decision and statement. The FOMC minutes are also a factor in the cross.

AUD/JPY noteworthy levels

Spot is presently trading at 102.03, and next resistance can be seen at 102.27 (Daily Classic R1), 102.68 (Daily Classic R2) and 102.93 (Weekly Classic R1). Next support to the downside can be found at 101.80,,101.40 and 100.00.

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