AUD/JPY slowly grinding higher towards 95 handle

FXStreet (Guatemala) - AUD/JPY is trading at 94.89, up 0.12% on the day, having posted a daily high at 94.97 and low at 94.70.

Again, the Aussie is unchanged on data releases and this time around we had the Australian Q2 Wage Cost Index that arrived as 0.6% Q on Q vs 0.7% consensus and the year-on-year arrived 2.6% vs 2.7% consensus. Meanwhile, the FXStreet OB/OS Index is reflecting overbought hourly conditions for AUD/JPY, while the FXStreet Trend Index is slightly bullish. Currently RSI is at 55.50, down from the last hourly print at 65.81. Looking to momentum indicators, the hourly 200 SMA is currently at 94.72, down from the last close at 95.14 and declining.

AUD/JPY hourly levels

With spot trading at 94.89, we can see next resistance ahead at 94.92 (Daily Classic R1) 95.05 (Daily Classic R2), 95.14 (Hourly 200 SMA) and 95.22 (Daily Classic R3). Support below can be found at 94.81 (Weekly Classic PP), 94.78 (Hourly 20 EMA) and 94.75 (Daily Classic PP).