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.

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).