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AUD/JPY: Consolidating Above 20-Day EMA

AUD

AUD/JPY has consolidated above the 20-Day EMA (¥95.09) after firming above the measure last week, the pair remains well within the ¥93/96 range which has persisted for the most part since July.

  • In early dealing this morning we sit a touch below opening levels at ¥95.55/60.
  • The uptrend remains intact, bulls target a break of the ¥96 handle. This opens high from 2 Oct (¥96.42) and high from 29 Sep (¥96.92).
  • On the downside bears immediate focus is on the 20-Day EMA. A break through here opens the low from 4 Oct (¥93.79) and the 200-Day EMA (¥93.25).
  • Data-wise the docket is thin today with tomorrow's PPI print from Japan the next release of note.

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