AUD/JPY holding steady just beneath 83.00 after a steady China PMI reading

• The Aussie trades steady following an as-expected China Caixin PMI.
• A risk-positive showing for the BoJ yesterday sees the Aussie claiming higher ground against the safe-haven Yen.

The AUD/JPY pair is trading into 82.85 after briefly snagging the 83.00 technical level in Tuesday’s lift following a showing from the Bank of Japan (BoJ) that was a positive for risk appetite.

The Aussie has lifted steadily from the week’s early lows against the Yen near the 82.00 level, but the AUD has seen a mild walk-back  in early Wednesday’s run-up to the China Caixin Manufacturing PMIs, which came in exactly at expecations, ticking down to 50.8 versus the previous reading of 51.0.

Next up for the AUD/JPY will be Japanese Foreign Investment figures later on today at 23:50 GMT, while early Thursday at 01:30 GMT will be seeing Trade Balance figures for Australia, and the headline Trade Balance for June is expected to shift higher from April’s $827 million to a $900 million reading in June.

AUD/JPY levels to watch

The Aussie-Yen pairing has managed to break out of last week’s peaks near 82.80, and bulls will be hoping for those levels to now act as support for a further push higher, while bears will be looking to drag the AUD/JPY below the 82.00 levels to challenge last week’s lows near 81.50.