FxWirePro: AUD/JPY trades above 200-DMA, positive market sentiment boosting demand for Antipodeans

AUD/JPY chart on Trading View used for analysis

• AUD/JPY trades 0.59% higher on the day at 82.155 at the time of writing.
   
• The yen loosing safe haven appeal amid risk-on. Also, positive market sentiment boosting demand for the Antipodeans.
   
• Price action has retraced dip below 200-DMA and is on track to test 82.58 (converged 38.2% Fib and 55W EMA).
   
• Break above could propel the pair higher. Next major resistance is seen at 83 (Nov 8 high).
   
• The pair finds strong support at 21-EMA and we see weakness only on break below.
   
• Focus now on Australia Capex data along with U.S. housing market data for October.

Support levels - 81.90 (200-DMA), 81.67 (21-EMA), 81.27 (55-EMA)

Resistance levels - 82.58 (converged 38.2% Fib and 55W EMA), 83.05 (Nov 8 high), 83.82 (50% Fib)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.