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AUD/JPY reclaims 100.50 on improved AU capex

FXStreet (Bali) - AUD/JPY is attempting to recoup some of its recent losses after a much better-than-expected Australian Capex release, allowing the pair to re-claim 100.50 following a decline to 99.90 during Europe.

Australia's Q3 new capital expenditure stood at +0.2% QoQ s/adj vs Reuters poll -1.5%, with the latest estimate 2014/15 capex a$153.2 bln (earlier estimate a$145.2 bln according to Reuters). Australia's Q3 building capex came at -1.9% QoQ, s/adj, while Q3 plant/machinery capex was +4.4% QoQ s/adj.

Technically, AUD/JPY needs to regain the 100.80/101.00 area to restore technicals to a more constructive stance, with failure to do so still seen as a sign of AUD weakness, which may prompt further enthusiasm to sell the still overstretched daily bull run. On the downside, 100.00 will be the focus again.

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