#AUDJPY @ 92.6750 has slipped sharply below 93.00 despite higher-than-predicted Aussie Retail Sales data. (Pivot Orderbook analysis)

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• AUD/JPY has slipped sharply below 93.00 despite higher-than-predicted Aussie Retail Sales data.
• Aussie monthly Retail Sales have advanced to 0.6% vs. the prediction of 0.4%.
• Investors have not reacted negatively to the unscheduled bond-buying program by the BOJ.

The pair currently trades last at 92.6750.

The previous day high was 93.97 while the previous day low was 92.91. The daily 38.2% Fib levels comes at 93.32, expected to provide resistance. Similarly, the daily 61.8% fib level is at 93.56, expected to provide resistance.

The AUD/JPY pair has slipped below 93.00 despite higher-than-forecasted Aussie’s monthly Retail Sales data. The economic data has landed at 0.6%, higher than the estimates of 0.4%, but lower than the prior release of 1.3%.

There is no denying the fact that the price pressures in the Aussie region are accelerating like there is no tomorrow. Lastly, the Australian Consumer Price Index (CPI) was recorded at 6.1% for the second quarter of CY2022. Now, higher-than-expected monthly Retail Sales data will delight the RBA in hiking the rate further unhesitatingly as robust retail demand is critical for escalating interest rates.

To tame the galloping inflation the Reserve Bank of Australia (RBA) is continuously working on policy tightening. RBA Governor Philip Lowe has already escalated the Official Cash Rate (OCR) to 2.35%.

On the Tokyo front, investors have reacted less to the minutes released by the Bank of Japan (BOJ) in the early Asian session. Also, investors have not reacted negatively to the unscheduled bond-buying program by the Bank of Japan (BOJ). Going forward, investors will focus on Japan’s employment data. The Unemployment Rate is expected to decline to 2.5% from the prior release of 2.6%. Also, the Jobs/Applicants Ratio will improve to 1.30 vs. 1.29 reported earlier.

Technical Levels: Supports and Resistances

AUDJPY currently trading at 92.73 at the time of writing. Pair opened at 93.18 and is trading with a change of -0.48 % .

The pair is trading below its 20 Daily moving average @ 95.84, below its 50 Daily moving average @ 94.88 , below its 100 Daily moving average @ 93.83 and above its 200 Daily moving average @ 90.21

The previous day high was 93.97 while the previous day low was 92.91. The daily 38.2% Fib levels comes at 93.32, expected to provide resistance. Similarly, the daily 61.8% fib level is at 93.56, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 92.74, 92.3, 91.69
• Pivot resistance is noted at 93.79, 94.41, 94.85

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