Chart - Courtesy Trading View
Technical Analysis: Bullish
AUD/JPY was trading 0.40% higher on the day at 92.71 at around 12:00 GMT. The pair has broken above 21-EMA raising scope for further upside.
Risk-negative headlines from China and Russia, mainly linked to the coronavirus resurgence support the yen and keep upside capped.
That said, the Reserve Bank of Australia’s (RBA) hawkish bias and readiness for more such moves supports the pair higher.
The RBA superseded market expectations of a 0.15% rate hike with 25 basis points (bps) of a lift to the benchmark rate.
On the data front, Australia’s Retail Sales for March rose past 0.6% market consensus to 1.6%, versus 1.8% prior.
Further, Australia’s S&P Global Services and Composite PMIs eased below the previous readouts of 56.2 and 56.6 to 55.9 and 56.1 respectively.
Retrace in the pair on account of Bearish RSI divergence has retraced above 21-EMA. Immediate resistance lies at 20-DMA at 92.92.
Break above 20-DMA will see further gains. Failure to hold above 21-EMA negates any further bullishness.


FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
FxWirePro: USD/ZAR edges higher but bearish outlook persists
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
FxWirePro- Woodies Pivot(Major)
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Pair levels and bias summary
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro- Major European Indices
FxWirePro: GBP/USD climbs above 1.34 after BoE's relatively hawkish cut
FxWirePro- Major Pair levels and bias summary
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption
EUR/JPY Holds Bullish Bias Post-ECB Pause: Buy Dips Toward 185 as 182 Support Stands Firm 



