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AUDJPY Rangebound: Bulls Hold 102, Watch for Breakout Above 102.85 
Poor Chinese inflation data released over the weekend raised concerns over China's ability to boost the economic growth, denting risk appetite and boosting yen.
- AUD/JPY hit a multi-year low of 80.88, levels not seen since Oct 2012, but was rejected at lows.
- The pair later rebounded higher towards 82 handle, on the back of strong pullback seen in the USD/JPY pair.
- Broader market sentiment will continue to dominate markets amidst a data-light economic calendar today.
- Strong resistance is seen at 81.95 levels, breaks above could take the pair to next hurdle at 82.95 (5-DMA) and then to 83.90 (Jan 8th highs).
- To the downside immediate support might be located 80.88 (Session lows Jan 11) below that at 79.50 (Oct 2012 Level).
Recommendation: Good to buy dips around 81.50, SL: 80.90, TP: 82.95/83.90
