AUD/JPY stuck at short-term daily MAs

Strong demand for JPY is making it hard for the AUD/JPY to breach 5-DMA and 10-DMA resistance levels of 76.63 and 76.71 respectively.

Losses capped by Pivot support

The daily Pivot support of 76.30 has helped the pair avoid losses despite rejection at the key moving average levels. Yen is turning out to be a top performer amid broad based USD selling.

Meanwhile, comments from RBA’s Lowe suggest the bank is in no hurry to cut rates and that is helping the Aussie hold on to marginal gains.

AUD/JPY Technical Levels

Breach of 76.30 (daily Pivot support) could yield a test of 75.96 (Sep 15 low) under which a major support is directly at 75.00 levels. On the other hand, a break above 76.72 (10-DMA) could expose 77.52 (previous day’s high) and 77.66 (50-DMA).