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AUD/JPY losing the battle for the 97 handle

FXStreet (Guatemala) - AUD/JPY is trading at 96.96, down -0.03% on the day, having posted a daily high at 97.05 and low at 96.90.

While we await Q2 Capex that is out at 01:30 GMT, on the hourly AUD/JPY chart, the 200 SMA is climbing and currently at 96.86, up from the previous hour close at 96.33 but the spot is deteriorating around the 97 handle. On average, the exponential closing price for the past 20 days is 95.90, with the trend indicating a continuation higher ahead. In respect of Capax, the RBA has already indicated that it does not expect a strong Q2 GDP reading and is more focused on Q3 and particularly 2015, as noted by Sean Callow, analyst at Westpac Banking Corporation ABN. “ In this regard, the third estimate of 2014/15 investment intentions is important, with the survey conducted in July and early August”.

AUD/JPY near term levels

With spot trading at 96.96, we can see next resistance ahead at 97.13 (Daily Classic R1) and 97.18 (Yesterday's High). Support below can be found at 96.90 (Daily Low), and 96.85.

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