AUD/JPY: Highest daily close in two-weeks, eyes Aussie retail sales

• AUD/JPY closed on Tuesday at the highest level in two-weeks.
• Upbeat Aussie retail sales could push the cross above 82.00.

Having closed at the highest level since March 21, the AUD/JPY cross is now looking towards Aussie retail sales number for another push above the psychological mark of 82.00.

Risk-on lifts Yen crosses

The Dow Jones Industrial Average (DJIA) jumped 1.65 percent or 389 points on Tuesday. Also, the broader S&P 500 index moved back above the 200-day moving average (MA) and closed above 2600. Thus, anti-risk Japanese Yen fell across the board, pushing the AUD/JPY cross higher to 81.99 - the highest level since March 22.

As of writing, the pair is trading at 81.90 and could jump well above 82.00 if the Aussie retail sales number beats estimates. The data, due at 01:30 GMT is expected to show consumption as represented by retail sales rose 0.3 percent in February vs 0.1 percent rise seen in January.

AUD/JPY Technical Levels

Previous day's close added credence to the bullish RSI divergence and bullish 5, 10 MA crossover seen on the daily chart and will likely yield a rally to 82.58 (March 21 high). A break higher would expose resistance at 83.32 (Feb. 14 low). On the downside, a move below 81.41 (10-day MA) could yield a pullback to 80.83 (April 2 low).  A close lower would abort the bullish view and allow a re-test of 80.50 (March 23 low).