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AUD/JPY: Recovers Above 20-Day EMA

AUD

AUD/JPY rose ~0.6% yesterday, the cross firmed above the 20-Day EMA (¥95.02) as the AUD found support after the RBA minutes of the October meeting. We do remain well within the ¥94/96 range which has persisted for the most part since mid-September

  • In early dealing on Wednesday we sit at ¥95.30/35.
  • The cross remains in an uptrend, bulls target the high from 12 Oct (¥95.83), high from 30 Sep (¥96.92) and ¥98.13 a Fibonacci projection.
  • On the downside, bears look for a move below the 20-Day EMA which opens the low from 13 Oct (¥94.05) and the 200-Day EMA (¥93.30).

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