AUD/JPY backs off from session highs

The post-Aussie data spike in the AUD/JPY proved to be short lived as the pair backed-off from the session high of 82.43 to 82.10 levels.

Trades above 200-DMA

The cross trades above 200-DMA level of 81.98, with traders eyeing overall market sentiment and China trade data release. The upbeat Aussie employment data did lift the cross higher, but geopolitical uncertainty is making it hard for the risk currency –AUD to hold on to gains. The Aussie is also feeling the pain of the sell-off in the iron ore prices.

Meanwhile, the funding currency Yen remains well bid. The currency pair was last seen trading around 82.33 levels.

AUD/JPY Technical Levels

A break below 81.98 (200-DMA) would open doors for a sell-off to 81.11 (Nov 18 low). On the higher side, breach of hurdle at 82.44 (session high) would expose 82.59 (5-DMA) and 82.75 (50-DMA).