AUD/JPY chart - Trading View
AUD/JPY was trading 0.40% lower on the day at 84.37 at around 12:25 GMT.
The pair has snapped a 7-day bullish streak and overbought oscillators raise scope for more downside.
The Chinese data released earlier in the day showed GDP grew 0.2% quarter-on-quarter and 4.9% year-on-year in the third quarter of 2021.
Industrial production grew 3.1% year-on-year, retail sales grew 4.4% year-on-year in September and the unemployment rate was at 4.9%.
Traders spooked after China's Q3 GDP disappointed markets. Risk aversion across markets keeps the pair under pressure.
Price action finds stiff resistance at 200-monthly moving average at 84.75, break above required for further upside.
Price action has bounced off weekly cloud support, momentum is bullish, scope for further gains. Bulls eye retest of yearly highs at 85.80.
Pullbacks if any are likely to be shallow. 5-DMA is immediate support at 84.09. Bullish invalidation only below 200-DMA.
