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Forex: AUD/JPY breaks above 105; highest since 2007

FXstreet.com (Barcelona) - With Australia jobs report just around the corner at 01:30 GMT AUD/JPY is last trading above the 105 handle, at its highest levels since late 2007, way before Lehman crisis hit. The cross is off recent record 5.5-year high printed in early Asian trade at 105.35, at 1.5-year high volatility with 146 pips per day on average for last 14 trading days.

Following all time record highs in US equity indexes, Nikkei index opens in Tokyo at a fresh 2013 high above the 13450 points, highest since Aug 2008, up +1.17% for the day so far. Japan core machinery orders has posted best monthly increase in a year at +7.5%, higher than expected, and coming from a previous of -13.1%, while USD/JPY struggles to get above key 100 handle, where huge sell orders are reported. AUD/JPY is up almost +18% year to date.

Immediate resistance to the upside for AUD/JPY shows at psychological level and July 20 2007 lows 106.00 round, followed by Oct 15 2007 highs at 106.88, and Nov 07 2007 highs at 107.18. To the downside, closest support lies at recent session lows 104.98, followed by Tuesday's highs at 104.40, and yesterday's lows at 103.65.

Japan Mar Money Supply M2+CD (YoY) rises to 3% vs 2.9%

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Forex Flash: Strong Aus jobs could see AUD/USD towards 1.06 - Westpac

In less than 1 hour, the Australia’s employment report will be released. Westpac’s economists expect 10,000 jobs to be lost, says Sean Callow, FX strategist at the bank, which is a sum slightly below the -7,500 consensus pick.
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