AUD/JPY: Bulls cheer risk-on, flirts with 82 handle

Dhwani Mehta FXStreet

The AUD/JPY cross paused its rebound from five-month lows near 82.10 levels, now consolidated the recovery around 82 handle, as investors gear up for the upcoming US macro data for next push higher.

The cross staged a solid comeback so far this session, mainly driven by a sharp rebound in AUD/USD, as risk-on moods persisted on Thursday amid a recovery in stocks and oil prices. Also, the Aussie remains underpinned by a pause in the sell-off in iron-ore prices.

Meanwhile on the JPY-side of the story, the USD/JPY pair managed to extend gains above 109 handle amid yen weakness, with markets look to take the yield advantage amid a better risk environment.

Technical Levels

Higher side: 82.21 (Apr 19 high), 82.53 (Classic R2/ Fib R3), 83.04 (200-DMA)

Lower side: 81.43 (multi-month lows), 80.97 (Classic S2/ Fib S3), 80.00 (key support)

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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