AUD/JPY rebounds to near 97.20 as focus shifts to Australian Employment data – by Sagar_Dua24 AUDJPY RBA BOJ Inflation Employment
The Australian economy is expected to disclose job additions against lay-offs reported for July.The AUD/JPY pair has sensed a decent buying interest after hitting a low of 97.20 in the late New York session. The risk barometer is aiming higher and will regain the bullish trajectory after overstepping the critical hurdle of 98.00. On Tuesday, the cross witnessed a steep fall after failing to cross the crucial resistance of 98.50 despite multiple attempts.
On the Tokyo front, the Industrial production data will be keenly watched on Wednesday. The economic data is expected to remain stable at -1.8% and 1% on an annual and monthly basis respectively. The AUD/JPY pair is bound to hit the psychological resistance of 100.00 in the upcoming trading sessions as RBA-Bank of Japan policy divergence is expected to widen further on soaring price pressures in the Australian region.
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