Australia April retail sales rise 0.4 percent, beat forecasts. AUD/JPY looks north on the back of strong data and bullish technical setup. The consumption as represented by retail sales rose 0.4 percent in April, beating the forecast of 0.2 percent, the Australia Bureau of Statistics reported on Monday. The previous month’s print was 0.0 percent. Further, the gross operating profits of Australian companies rose 5.9 percent quarter-on-quarter in the first quarter, beating the estimate of a 3.0 percent rise. The AUD/JPY pair clocked a session high of 83.31 in response to the upbeat Aussie data and looks set to build up on a bullish technical breakout. 1-hour chart Spot Rate: 83.25 Daily high: 83.31 Daily low: 82.74 Trend: Bullish The bull flag breakout seen in the hourly chart indicates scope for a rally to 84.36 (target as per the measured height method). The probability of a rally to 84.36 has increased following the release of the upbeat Aussie data. AUD/JPY Technical Levels Resistance: 83.32 (Feb. 12 low), 83.67 (100-day MA) 84.00 (psychological level). Support: 82.74 (session low), 82.53 (50-day MA), 82.18 (May 16 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/NZD receives a boost from Australian Retail Sales FX Street 5 years Australia April retail sales rise 0.4 percent, beat forecasts. AUD/JPY looks north on the back of strong data and bullish technical setup. The consumption as represented by retail sales rose 0.4 percent in April, beating the forecast of 0.2 percent, the Australia Bureau of Statistics reported on Monday. The previous month's print was 0.0 percent. Further, the gross operating profits of Australian companies rose 5.9 percent quarter-on-quarter in the first quarter, beating the estimate of a 3.0 percent rise. The AUD/JPY pair clocked a session high of 83.31 in response to the upbeat Aussie data and looks set to build… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
