AUD/JPY extends beyond 95

FXStreet (Mumbai) – AUD/JPY keeps the bid tone in the Asian morning, extending its upbeat momentum from the previous session, largely backed by broad yen weakness as the US dollar remains buoyed following better than expected US macro data.

AUD/JPY eyes 96 handle

Currently, the AUD/JPY pair trades 0.14% higher at 95.44, finding good support at 95 barrier. AUD/JPY inched higher this session mainly driven by a weaker yen versus the US dollar as the USD bulls remain underpinned on impressive US existing home sales data while markets await BOJ minutes due for release tomorrow.

On the AUD-side of the equation, the gains are also supported as the Aussie remains well bid ahead of Chinese manufacturing PMI report due later this session.

Traders also await a batch of key US data later today for further momentum on the UAD/JPY cross.

AUD/JPY Technical Levels

To the upside, the next resistance is located 95.87 (June 22 High) levels and above which it could extend gains 96.03 (June 19 High) levels. To the downside immediate support might be located at 95 below that at 94.59 (June 11 Low) levels.

AUD/JPY keeps the bid tone in the Asian morning, extending its upbeat momentum from the previous session, largely backed by broad yen weakness as the US dollar remains buoyed following better than expected US macro data.

(Market News Provided by FXstreet)