AUD/JPY trades below 86.00

By FXStreet FXStreet (Mumbai) – The AUD/JPY pair, which is increasingly being tracked to gauge overall sentiment in the markets, is trading sideways just below 86.00 levels.

Supported by hourly 200-MA

The AUD bears have had a tough time pushing the spot below its hourly 200-MA in the overnight trade. Moreover, the moderate gains on the Wall Street kept the Yen bulls at the bay. Meanwhile, a slightly stronger CNY daily fix by the PBOC also added to the positive sentiment in the Aussie and other Asian currencies.

At the moment, the S&P futures are ticking lower, hinting at a risk-averse bias. A follow through in Europe could motivate the Yen bulls and push the AUD/JPY pair below its hourly 200-MA.

AUD/JPY Technical Levels

The pair currently trades around 85.90. The immediate resistance is located at 86.18 (hourly 50-MA) and 86.32 (hourly 100-MA). On the lower side, support is seen at 85.87 (hourly 200-MA) and 85.00 levels.
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Source:: FX Street