AUD/JPY sits above monthly 200-MA in Asia

Despite the corrective move in the Yen, the AUD/JPY cross has managed to hold above the monthly 200-MA level of 81.95, largely due to the recovery in the AUD/USD pair from the NY session lows.

Offered near major trend line hurdle

The descending trend line drawn from Nov 2014 high of 102.85 and June 2015 high of 96.99 comes around 82.80. The cross rose to 82.60 on Tuesday before the bullish move ran out of steam.

The pair was last seen trading around 82.20 levels. The data docket is thin in Asia, hence the action in the treasury yields and the resulting moves in the Dollar-Yen pair is likely to guide the AUD/JPY cross.

AUD/JPY Technical Levels

A breach of the trend line resistance of 82.80 would open doors for 83.27 (Oct 2015 low), above which the cross could target 84.58 (monthly 100-MA). On the lower side, a breach of 81.94 (Nov 9 high) would expose 5-DMA support of 81.72, under which losses could be extended to 81.00 (10-DMA).