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AUD/JPY recovery stalling on 84 handle

FXStreet (Guatemala) - AUD/JPY is currently trading at 84.34 with a high of 84.49 and a low of 83.85.

AUD/JPY has been mixed overnight and is better bid leading into theTokyo open. The price has run up from below the 83.20 resistance area and then on to penetrate 83.80 before hitting highs of over 84.40 that the cross has attempted to break on two occasions making for a double top while trading above the the 20 and 50 SMA's on the hourly chart.

The risk theme has been mixed, with the equities in European and US markets in the red and setting the scene for yet another bearish end to another bearish week, supporting demand for the Yen while USD/JPY continues to trade below the key 120.80 200 DMA mark, despite Yellen's hawkish tone at the start of the Asian shift where said that she expects that rates will go up before year-end, depending on economic data. Meanwhile, in Japan, we had the CPI's that were pretty much in line and unlikely to cause a stir in the open.

AUD/JPY levels

AUD/JPY has a bearish bias medium term while trading below 85 and below the 50/20 SMA's on the 4hr chart. MACD is turning less negative and trading below the pivot 84.49. Resistance thereafter comes as 84.97, 85.60 200 SMA 1hr and key 86.19.

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