• Upbeat Chinese economic data, especially better-than-expected Q2 GDP and monthly industrial production data.
   
• Since the beginning of this week, the Japanese currency has witnessed intense selling pressure on expectations of additional fiscal stimulus from the Japanese government.
   
• AUD/JPY is extending bounce from channel base and has shown a price breakout above channel top resistance currently at 79.95.
   
• We had advised a long call (http://www.econotimes.com/FxWirePro-AUD-JPY-struggles-at-channel-top-resistance-buy-breakout-target-83-levels-235812).
   
• Recommend holding for targets.