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Forex: AUD/JPY stalls shy of 100 round figure

AUD/JPY is last at 99.74, off previous fresh 4.5-year high at 99.97, moments before Japan's upper house voting for incoming BoJ nominees at 01:00 GMT. The cross broke yesterday to the upside following astonishing Aussie jobs report showing best monthly increase in employment since year 2000 pre-Sydney Olympics, leaving behind a weekly double high at 99.60, now working as support.

“AUD/JPY broke higher out of its recent holding range but was unable to get through barriers at 100.00, both physical and psychological,” said FXWW founder Sean Lee earlier in the session, adding: “Much of today’s Asian session interest will revolve around this pair I feel,” he concludes. Nikkei index closed yesterday barely below the 11400 points mark up +1.16% for the day, with AUD/JPY higher by +1.47% for the week so far.

Immediate resistance to the upside for AUD/JPY shows at mentioned fresh weekly high 99.97, followed by July 01 2008 lows at 100.10, and June 12 2008 lows at 101.42. To the downside, nearest term support lies at Tuesday's highs 99.58, followed by NY's session lows at 99.45, and March 08 highs at 99.12.

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