AUD/JPY Price Analysis: 200-HMA regains bull’s attention on upbeat Aussie employment data
|- AUD/JPY pokes two-day-old descending resistance line on strong Australia jobs report for December.
- Aussie Employment Change rose past forecast, Unemployment Rate dropped.
- Firmer RSI, upbeat data keeps buyers hopeful but two-week-long descending trend line is the key hurdle.
AUD/JPY cheered upbeat Australia jobs report while poking an immediate resistance line near 82.70, up 0.27% intraday during early Thursday.
Australia’s headline Employment Change rose past 30.0K forecast to 64.8K while the Unemployment Rate dropped below 4.5% market consensus and 4.6% prior t o4.2%. Further, Fulltime Employment eased below 128.3K previous readouts to 41.5K and the Participation Rate also reprinted 66.1% figure versus 66.2% market forecasts.
Read: Breaking: Australia Employment Report: Upbeat details for December recall AUD/USD buyers
That said, firmer RSI conditions, not overbought, also favor the AUD/JPY bulls to overcome the immediate trend line hurdle surrounding 82.75.
However, the 200-HMA level 82.85 and a descending trend line from January 05, close to 83.30, will challenge the pair buyers afterward.
On the contrary, an upward sloping trend line from the previous day, near 82.45, restricts the quote’s immediate downside ahead of the monthly low of 82.08 and the 82.00 threshold.
Following that, a gradual decline towards the early December swing high near 81.70 can’t be ruled out.
AUD/JPY: Hourly chart
Trend: Further recovery expected
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.