AUD/JPY consolidates near 3-month tops above 80.00

Dhwani Mehta FXStreet

The cross in the AUD/JPY stalled its retreat from multi-month highs and now hovers in a narrow range above 80 handle, as markets await the European open for fresh cues on the risk sentiment.

AUD/JPY keeps 80 handle

The AUD/JPY pair, currently, trades +0.59% higher at 80.15, easing-off three-month highs reached at 80.29 in early Asia. The AUD/JPY cross pares gains, although remains strongly bid on the back of strong gains seen in the AUD/USD pair, following the release of better-than expected Australian Q3 inflation report.

Meanwhile, the latest leg lower in the cross is largely driven by the USD/JPY pair, as it turned back lower after a retest of daily highs at 104.38. Looking ahead, the cross is likely to get influenced by RO-RO trends in absence of fresh incentives until the NA session. While the US advance GDP and Japanese CPI reports are eagerly awaited for fresh take on the prices.

AUD/JPY Technical Levels

To the upside, the next resistance is located at 80.29 (multi-month highs) and above which it could extend gains to at 80.50 (psychological levels).To the downside immediate support might be located 79.45 (daily low/ 5-DMA) below that at 79.01 (20-DMA).

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Slightly Bullish	Neutral	Low
1H	Bearish	Neutral	High
4H	Bearish	Neutral	High
1D	Bearish	Neutral	Low
1W	Bearish	Neutral	Low
Updated Oct 25, 05:30 GMT

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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