AUD/JPY sitting pretty near 82.60 as Aussie CPI closes in
|- The AUD/JPY trades sedately through Monday's Dollar-dominated action.
- Aussie CPI will be the big mover of the session, but downside exposure looking likely.
The AUD/JPY is holding steady near 82.60 after trading mostly flat through Monday.
The pair has been trading to the inside of a 30-pip range to kick off this week as overall market sentiment remains relatively on-balance even as the US Dollar surges against the major currency bloc.
Aussie CPI figures due at 01:30 GMT early Tuesday promise to throw a bit more fuel on the AUD fire, but an upside beat to the 0.5 percent expectation (prev. 0.6) is unlikely to drive much bullish action into the AUD, which continues to suffer at the hands of a widening gap between the Reserve Bank of Australia (RBA) and other central banks around the globe.
Japan saw the year-on-year Corporate Services figure for February come in at the expected 0.5 percent, and the rest of the Asia session promises smooth sailing, with only the Leading Economic Index for Japan remaining at 05:00 GMT, which is expected to print in-line with the previous figure of 105.8.
AUD/JPY Levels to watch
Monday's consolidation leaves immediate boundaries at 82.50 for support and 82.80 for resistance, but a breakout in either direction will see those lines flip from resistance into support or vice versa, while a bearish break will see the pair challenging the 50.0 Fibo level of the recent bull move, and a move to the upside will face resistance at the upper limit near the 84.00 major handle.
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