AUD/JPY: Bulls run into 5-DMA resistance

Amid a quiet Asian session, the AUD/JPY cross emerged one of the top performers across the fx board. Although the bulls failed to sustain the upmove, sending the rate back towards 85 handle.

AUD/JPY meets fresh supply at 85.30 – key confluence

The AUD/JPY pair now gains +0.14% to 85.09, eyeing a break below 85 barrier. AUD/JPY recedes gains, closely tracking the retreat in the AUD/USD pair, after the major stalled its bullish move amid weaker copper prices and negative sentiment on the Asian indices.

While USD/JPY meanders around 5-DMA, failing to have any impact on the cross, as markets now look forward to the US data dump due later today for fresh direction.

Technical Levels

Higher side: 85.48 (20-DMA), 85.89 (10-DMA)

Lower side: 85 (zero figure/ 4-day low), 84.74 (daily S1)

Dec 22, 2016

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