AUD/JPY chart - Trading View
AUD/JPY was trading 0.36% lower on the day at 84.75 at around 15:00 GMT.
The pair is trading above daily cloud and major moving averages, bias bullish.
Price action is struggling to break above 200-month MA (currently at 84.72) from the past four months.
Technical indicators are bullishly aligned and decisive break above 200-month MA will propel the pair higher.
Antipodeans stay depressed today after poor China data and risk-off market sentiment. Focus on RBA minutes for further impetus.
Data released earlier today showed China Retail Sales dropped to 17.7% y/y, missing forecasts at 24.9% and beneath 34.2% prior.
China Industrial Production matched 9.8% market consensus versus 14.1% previous readouts.
21-EMA is strong support at 84.51. Break below will see dip till daily cloud. Breakout at 200-month MA will see upside continuation. Next major bull target lies at 90.30.
