AUD/JPY sits above weekly 200-MA ahead of Aussie jobs data

AUD/JPY jumped above 88.69 - weekly 200-MA earlier this week and peeped above 89.00 in the Asian session today. 

Stuck at 161.8% Fib extension

The cross is struggling to take out 89.07 (161.8% Fib extension of the June 6 low - June 20 high - June 22 low) despite the bullish crossover between the 50-DMA and the 100-DMA. 

Eyes Aussie jobs data 

The unemployment rate is seen rising to 5.6% in June from May’s figure of 5.5%. The economy is seen adding 15K jobs in June. Traders should also take note of the part time and the full time employment numbers. 

A better-than-expected number could boost speculation of RBA rate hike and push the AUD/JPY cross towards 90.00 levels. 

AUD/JPY Technical Levels

The pair clocked a high of 89.11 in Asia before trimming gains to trade around 88.95 levels. A break above 89.30 (May 2011 high) would expose 90.02 (Apr 2011 high). On the downside, a failure to hold above 88.72 (monthly 50-MA) could yield a pullback to 88.00 (zero levels).