FXstreet.com (San Francisco) - After testing bids below 80.00 overnight, tight consolidative price action around the 80.20 mark (80.12/80.31 intraday) is in effect for AUD/JPY as investors stay sidelined ahead of Australian housing and retail sales data for August at 01:30 GMT.
If volatility picks up after the Australian Bureau of Statistics reports these figures at the bottom of the hour, AUD/JPY may test offers at 80.45 (100-hr EMA), 80.65 (Sep 13 low), and 80.75 (200-hr EMA). Dips may encounter bids at 80.00 (figure), at 79.71 (overnight trough) and 79.50 (July 25 low).
Asian bourses are biased up after stocks on Wall Street ended higher Wednesday on the back of positive economic data, with Japan’s Nikkei quoted up 28.63 points, or 0.33% at 8,775.50. Australia’s ASX is up 7.64 points, or 0.17% at 4446.20.
If volatility picks up after the Australian Bureau of Statistics reports these figures at the bottom of the hour, AUD/JPY may test offers at 80.45 (100-hr EMA), 80.65 (Sep 13 low), and 80.75 (200-hr EMA). Dips may encounter bids at 80.00 (figure), at 79.71 (overnight trough) and 79.50 (July 25 low).
Asian bourses are biased up after stocks on Wall Street ended higher Wednesday on the back of positive economic data, with Japan’s Nikkei quoted up 28.63 points, or 0.33% at 8,775.50. Australia’s ASX is up 7.64 points, or 0.17% at 4446.20.
