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

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)

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