AUD/JPY Fails Once Again Near 84 Handle and Retreats
The AUD/JPY
cross traded volatile so far this session, although remains underpinned
by the relentless rise in the USD/JPY pair amid risk-on trades at full
steam.
AUD/JPY fresh sellers queued up near 84 handle
The
AUD/JPY pair now advances +0.34% to 83.73, failing another to conquer
84 handle. The cross witnessed wild swings on both sides this Wednesday,
before settling in the green zone over the past few hours on the back
of renewed weakness in the yen against its American counterpart. The
dollar-yen pair trades near a new four-day high of 109.30, up +0.53% on
the day.
However, the recovery from 83.25 low remains confined
below 84 handle, as the AUD/USD pair completely shaved-off China trade
data driven gains, and remains in the red on the back of selling seen
in the black gold. The Aussie moved-off lows to now trade around 0.7670
levels, still down -0.18% so far.
Moving on, the cross now
awaits the US economic releases, including the US retail sales and PPI
data, due later today for fresh insights on the US economic conditions
and eventually on the US interest rates outlook.
AUD/JPY Technical Levels
To
the upside, the next resistance is located at 84/84.02 (round number/
daily high) and above which it could extend gains to at 84.27/30 (100
& 20-DMA).To the downside immediate support might be located
83.28/25 (1h 200-SMA/ daily low) below that at 82.93/55 (daily pivot/
5-DMA).
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