- AUD/JPY spikes on upbeat China CPI data, up 0.46 percent on the day.
- The pair has broken major trendline resistance at 85.20 and edged higher to currently trade at 85.47.
- Major resistance is seen at 85.60 (weekly 100-MA), break above needed for further upside.
- Support levels - 85.14 (5-DMA), 84.98 (1H 100-MA), 84.85 (trendline), 84.05 (38.2% Fib of 102.84 to 72.43 fall)
- Resistance levels - 85.60 (Weekly 100-SMA), 86, 86.70 (Mar 28 week), 87, 87.64 (50% Fib)
Recommendation: Long breakout above 85.60, target 86, 86.70, 87
FxWirePro's Hourly AUD Spot Index was at 91.2145 (Bullish), while Hourly JPY Spot Index was at -34.099 (Neutral) at 0645 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
