AUD/JPY upside capped and bearish below MA’s

By FXStreet FXStreet (Guatemala) – AUD/JPY is currently trading at 83.73 with a high of 83.76 and a low of 83.57.

AUD/JPY has settled back after a recovery from the lows of the downside in Asia yesterday that scored 82.87 before the Europeans managed to gather themselves out of risk-off mode and investors took up equities allowing the price to rally to reach highs of 84.30 in London.

The price has been a range between the 20 and 50 SMA on the hourly chart at 83.58 and 83.98 respectively. The US was mixed-risk and left the pair to trade sideways in a narrower range until the Asian handover and close on Wall Street. Today, we have some second tier data from Australia but Japan delivers a handful of key releases, including industrial production and retail sales ahead of the Q3 Tankan sentiment survey.

AUD/JPY levels

Technically, the price is stabilising with MACD turning less positive on the hourly sticks although trades with a bearish bias below RSI (14) 50 and EMA 100 at 84.04 and SMA 200 84.93 while below the pivot of 84.08. Classic supports are 83.41, 83.01 nd 82.34. Classic resistances are 84.48, 85.15 and 85.55.
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Source:: FX Street