Demand for the AUDJPY pair has helped the....>

AUSSIE: Demand for the AUDJPY pair has helped the Aussie move higher on the day,

with talk suggesting that Tokyo banks drove the bid in AUDJPY.

- AUDJPY is now trading above 81.00, with the next notable upside target seen at

the Mar 23 high of 81.46.

- AUDUSD last trades at 0.7720, 20 pips better off on the session. From a

technical perspective AUDUSD bulls failed to capitalise on the bullish key day

reversal last week with the pair remaining capped around its DMAs 0.7777-0.7806.

Bulls look for a close above the 200-DMA (0.7806) to pressure 0.7842-0.7916

where the falling TL off 2018 highs and 55-DMA are located. While the 200-DMA

caps bears remain focused on 0.7500-80 and now look for a close below 0.7669 to

add weight to their case. The Bollinger base (0.7656) remains the key.