AUD/JPY is consolidated awaiting RBA after BoJ disapointments

AUD/JPY is currently in consolidation ahead of the Chinese dat and after the shock BoJ even last week who managed to disappoint the Yen bears.

AUD/JPY has dropped from the 0.79 handle on the back of the BoJ not doing as much easing as markets had been prepared for given the preceding speculation that had come from comments from both official and non official sources regarding the kind of stimulus that was being proposed for the Japanese economy. Meanwhile, markets await the RBA who are expected to either cut by 25bps from 1.75% to 1.5% or hold given the recent steadiness in CPI and jobs sector without there being any shocks in economic indicators from around the world. 

AUD/JPY levels

AUD/JPY is now trading down at the late July lows and the early July highs of 4th July in consolidation. 79.20 is a key resistance ahead of 80.40/80 20th July ranges before 81.50 14th July highs. 74.50 marks key support 27th June and 5ht July lows.