AUD/JPY - 200-day MA is a tough nut to crack

200-day MA is capping the upside for the second day.
Big beat on Aussie consumer confidence isn't helping the AUD either.

Omkar Godbole FXStreet Contributor

AUD/JPY is trading on the front foot, although the bid tone is once again not strong enough to topple the 200-day MA of 85.85 levels.

Yesterday's move above the moving average was short-lived as well. Also, it worked as a strong resistance on Dec. 4 and Dec. 5.

Earlier today, the Westpac consumer confidence data printed at 3.6% vs. -1.7% previous. Still, the moving average resistance holds. As of writing, the pair is trading at 85.84 levels. Ahead in the day, the 200-day MA hurdle could fall if the equities remain well bid. Further, the Yen may drop if the US CPI betters estimates.

AUD/JPY Technical Levels

A close above 85.85 (200-day MA) would open doors for a rally to 86.69 (Oct. 31 low) and 87.12 (100-day MA). On the other hand, a breach of support at 85.36 (10-day MA) could yield 85.00 (zero levels). A violation there would expose 84.67 (Dec. 7 low).

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Bullish	Neutral	Expanding
1H	Bullish	Neutral	Low
4H		Neutral	Expanding
1D	Bullish	Neutral	Low
1W	Bullish	Neutral	Shrinking
Updated Dec 13, 00:30 GMT

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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