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AUD/JPY: Holding Above 20-Day EMA

AUD

AUD/JPY was pressured yesterday, falling ~0.7%, as risk off flows weighed. The cross is holding above the 20-Day EMA (¥96.38) for now.

  • In early trade this morning we sit at ¥96.55/60.
  • Despite yesterday's fall we remain in an uptrend; bulls focus on a break of the ¥98 handle which opens cycle highs (¥98.62) and the ¥100 handle.
  • On the downside bears immediate focus is on the 20-Day EMA. The 200-Day EMA comes in at ¥94.60, a break through here opens ¥93.73 (low from 7 Dec) and ¥92 handle.

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