AUD/JPY gaps higher, but fails again at 80.00 levels

AUD/JPY cross gapped higher at 79.92 and extended gains to 80.12 before deflating to 79.80 levels, marking another failure to hold above the key psychological level of 80.00. 

Rejected at 200-DMA

A retreat from the session high also marks the third failure in the last two weeks to hold above the 200-DMA level seen today at 80.03. 
The offered tone around Yen strengthened in Asia after the FBI found no criminality in Clinton’s emails. The news also pushed Treasury yields higher, which led to broad based USD strength.

The resulting weakness in the Aussie-Dollar ensured the AUD/JPY cross failed to hold gains above 80.00. 

AUD/JPY Technical Levels

A break below 79.59 (10-DMA) would open doors for a slide to 78.99 (Nov 2 low) under which the losses could be extended to 78.48 (Nov 3 low). On the higher side, breach of 200-DMA of 80.03, preferably on a daily closing basis could yield a rally to 81.00 (zero figure) - 81.52 (July 15 high).