FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (NZDUSD and EURUSD) for the day)
FxWirePro: AUD/JPY pivotal at 200-DMA and cloud support
Chart - Courtesy Trading View
AUD/JPY was trading 0.11% lower on the day at 83.08 at around 10:25 GMT.
The pair is extending sideway grind along 200-DMA, finds major support at daily cloud.
Price action and recovery attempts remain capped below 200H MA, GMMA indicator is flat.
Data released earlier today showed Australia Construction Work Done (QoQ) for Q3 printed at -0.3%, bettering estimates at -3.1%, but lower than the previous quarter's 0.8%.
The sour tone of global indexes and higher government bond yields fueled demand for the safe-haven yen.
Technical indicators are inconclusive, the pair lacks clear directional bias.
Bounce off 200-DMA and daily cloud support will see upside resumption. On the flipside, breach below will open downside.
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