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AUD/JPY supported by hourly 100-MA

FXStreet (Mumbai) - The risk aversion post Fed decision pushed the AUD/JPY lower, but the pair managed to sustain above its hourly 100-MA and ticked moderately higher in Asia today to trade around 86.30 levels.

Aussie strong despite weakness in Copper

The Australian dollar, which usually mimic movement in the copper prices, has ignored the drop in the metal today. The Comex copper currently trades 1% lower, despite which the AUD/JPY advanced 0.30%. Still, the gains in the cross appear restricted as the Japanese Yen strengthened, indicating possible risk aversion ahead.

The cross recovered from the low of 85.79 seen in Asia today to trade around 86.30 levels.

AUD/JPY Technical Levels

The immediate resistance is located at 86.47 (hourly 50-MA), above which gains could be extended to 87.00 levels. On the other side, support is seen at 86.04 (hourly 100-MA) and 85.42 (hourly 200-MA).

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