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AUD/JPY chart - Trading View
AUD/JPY was trading rangebound on the day with session high at 83.86 and low at 83.55.
The pair holds cloud support, but recovery lacks traction and upside remains capped at 5-DMA.
Data released earlier on Thursday showed National Australia Bank's Business Confidence grew past forecast and prior readings during Q1 2021, but Aussie remains unfazed.
Business Confidence data released by National Australia Bank (NAB) beat market consensus of 7 and also grew beyond 14 previous readouts to 17 in Q1 2021.
Sluggish market sentiment amid worsening COVID-19 conditions across Asia along with US stimulus deadlock and geopolitical-tensions dent upside.
Intraday bias for the pair is neutral, but major trend is bullish. Technical studies are inconclusive. Breach below cloud will drag the pair lower.
