Waiting for the clue from the CPI data
The AUDUSD technical review through the CPI data can be found here.
What about the AUDJPY?
Looking at the hourly chart, the pair has been waffling between the 100 hour MA above (at 88.70), and the 200 hour MA, 38.2% retracement and swing low level below (at 86.38). The current price is trading at 88.61. Clearly, traders are awaiting and taking their clues from the data.
Is there a bias?
If you look at the daily chart, the price is staying above the 100 and 200 day MAs (bullish). It is above a trend line that cuts across at 87.88. Stay above those levels is more bullish.
If going higher, the 89.42 swing high from July will be a target above to surpass. The September high at 90.294 did break above the topside trend line and failed. So there was some apprehension at the higher levels. Be aware....
