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AUD/JPY looking to get a foot up on 82.00

2018-9-21 14:30:44Trading Strategies
AUD/JPY looking to get a foot up on 82.00

The AUD/JPY is moving quietly in thin early Friday markets, testing into the 82.00 technical level after Japan's national CPI saw little market reaction.

This week saw little notable data or info from within Australia, and the Reserve Bank of Australia's (RBA) latest bulletin delivered nothing new for traders to digest. Broader market sentiment has seen investors shake off trade war fears, and riskier assets have been seeing some bullish action against the safe-haven JPY.

Japan's national CPI came in above expectations, with the headline annualized figure into August clocking in at 1.3% (forecast 1.1%, last 0.9%), though with the national inflation reading lagging the Tokyo CPI print by several weeks, market reaction has been muted with an uptick in Japan's inflation already priced into the AUD/JPY.

AUD/JPY levels to watch

The Aussie has closed in the green against the Japanese Yen for three straight trading days, bumping into the 82.00 handle after lifting from September's lows at 78.70, and buyers will be seeing resistance from early August's peaks near 82.80 with support building in from previous support at 79.70.