AUD/JPY bulls headed for a break of 10 dma?

AUD/JPY has been a steady climb from the lows of 78.62 and has reached a high of 79.53 on the day so far.

AUD/USD has led the way towards a test of the 0.73 handle on a recovery in oil and risk appetite and a continuation in the correlation in 2yr or 5yr rate differentials, as noted by analysts at Nomura.

What is correlating in the FX space? - Nomura

In respect of the Yen, it is on the back-foot fundamentally and analysts at Scotiabank explained and target USD/JPY to 111.50.

USD/JPY: bullish to 111.50 - Scotiabank

AUD/JPY levels

AUD/JPY remains in a strong downward trend defined from 0.7834 on five waves of supply until 0.7244 lows. The price has managed to bottom there, just below the 200 dma at 0.7258. 0.7338 marks the 100 dma and a recovery above there with momentum through the 10 dma at 0.7369 opens the 0.7478 5th of May high as last defence for the 0.75 handle. On the downside, a continuation of the bearish trend targets a break of the psychological 0.70 handle and opens 2016 lows at 0.6827.