EUR/JPY Powers Higher for 2nd Day — Bulls Charge Toward 187+ Breakout 
China's Refining Industry Faces Major Shakeup Amid Challenges 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Urban studies: Doing research when every city is different 
Stock Futures Dip as Investors Await Key Payrolls Data 
NZDJPY Bulls in Control: Buy-the-Dip Setup Points to 96 Target 
US Gas Market Poised for Supercycle: Bernstein Analysts 
USD/CHF Pauses After 200-Pip Rally — Buy Dips Near 0.775, Target 0.790 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand 
AUD/JPY chart on Trading View used for analysis
- AUD/JPY is extending weakness for a 3rd straight session, bias lower.
- Aussie under pressure after dismal GDP data which has reiterated expectations that the RBA will be on hold for an extended period.
- Data released earlier today showed Australia September quarter GDP arrived well below estimates at 0.3%, widely missed market forecasts of 0.6%.
- Aussie bears have ignored upbeat Chinese Caixin November services PMI, drag the pair lower.
- Recovery was capped at 5-DMA, pair is on track to test 200-DMA at 81.87. Violation there could see further weakness.
- Technical indicators are biased lower. Stochs are on verge of rollover from overbought levels.
- RSI is biased lower and MACD is on verge of bearish crossover on signal line.
Support levels - 82, 81.87 (200-DMA), 81.65 (110-EMA)
Resistance levels - 82.93 (5-DMA), 83, 83.82 (50% Fib)
Recommendation: Good to go short on upticks around 82.40/50, SL: 82.95, TP: 82/ 81.85/ 81.65
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
