AUD/JPY chart - Trading View
AUD/JPY was trading 0.26% higher on the day at 83.59 at around 05:20 GMT, extending previous session's 0.51% gains.
Australian dollar buoyed following better-than-forecast Aussie Q4 GDP data and improved market sentiment.
Australia's economy expanded 3.1% quarter-on-quarter in Q4, beating the estimated drop to 2.5% from 3.4% in Q3. In annualized terms, the economy contracted 1.1% versus -1.8% expected and -3.8% previous.
Aussie bulls unfazed by dismal Chinese Caixin Services PMI which fell to 51.5 in February from 52 in January.
Risk recovers as US President Joe Biden’s vaccine optimism joins hopes of a rate cut from the Chinese central bank, favouring bulls.
AUD/JPY has erased most of previous week's losses and is currently trading above 76.4% Fib. Price action is consolidating above 110-month EMA.
Momentum is bullish, volatility is rising, bulls likely to retest 200-month MA at 84.66. Decisive break above will propel the pair higher.


FxWirePro: USD/CAD dips below lower range, bearish bias increases
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
AUDJPY Bulls in Control: Buy the Dips Above 103.80 for a Run Towards 106
FxWirePro: USD/ZAR outlook weaker on renewed downside pressure
FxWirePro: EUR/NZD set for bigger drop, but close below key fibo needed
FxWirePro: EUR/AUD attracts selling interest, vulnerable to more downside
FxWirePro: GBP/USD runs out of steam but maintains bullish outlook
FxWirePro- Woodies Pivot(Major)
FxWirePro: USD/CNY hits 15-month low , scope for further downside
FxWirePro: USD/JPY extends falls as Japanese yen extends rally after hawkish BoJ minutes
USD/CHF Bears in Control: Dips Below 0.7870 Signal More Downside Ahead
FxWirePro: EUR/CAD extends fall, vulnerable to more downside
EUR/GBP Holiday Slumber: Bearish Bias Intact Below 0.8800 Resistance
FxWirePro: GBP/AUD tracks lower on firmer Australian dollar 



