AUD/JPY ignores weak china data

AUD/JPY remains above 81.00 as traders ignored a weaker-than-expected China industrial production and retail sales figure.

Weak Yen supporting the pair

Sharp rise in the USD/JPY pair and a relatively resilient AUD/USD pair amid broad based USD rally pushed the AUD/JPY cross to   high of 81.13.

China industrial production came-in at 6.1% compared to estimate of 6.2%, while the retail sales printed at 10.00 as opposed to the expected figure of 10.7%. However, the markets ignored the weak China data.  

AUD/JPY Technical Levels

A break above 81.52 (July high) would expose 82.00 (zero figure) and 82.46 (last week’s high). On the lower side, breach of support at 81.00 (zero figure) would shift risk in favor of a drop to 80.71 (weekly 5-MA) and 80.00 levels.