AUD/JPY treading water near 82.00

The AUD/JPY is trading thinly ahead of a hefty week loaded with central bank meetings.
Japan's Retail Sales came in broadly better than expected, but Yen traders are awaiting the BoJ.

Joshua Gibson FXStreet

The AUD/JPY is trading steadily just above the 82.00 technical level with Yen traders keeping a steady hand despite a positive twist to Japan's Retail Sales figures.

Japan's Retail Sales figures came in above expectations across the board, with y/y Retail Sales for June coming in at 1.8% versus the expected 1.6% (previous 0.6%), and Large Retailers' Sales also improved, clocking in at 1.4%, reversing the expected contraction to -0.4% (previous -0.2%).

Later this week sees a key meeting from the Bank of Japan (BoJ), and JPY traders will likely be awaiting announcements from the Japanese central bank on adjustments to their current monetary policy, which could see heavy Yen traders on the sidelines until the BoJ meeting on Tuesday.

AUD/JPY Levels to watch

The Aussie bottomed out against the Yen last week near 81.80, but a limited bullish recovery stalled out in the mid-week from 82.85, and the pair is continuing to struggle near the 82.00 major level ahead of a major week for central bank action.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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