AUD/JPY is extending four-day winning streak in Asia

The AUD/JPY cross is extending the four-day winning streak in Asia as the Yen selling spree continues.

Aussie strengthens despite gold sell-off

Despite the sell-off in gold prices to 61.8% Fib retracement of Dec 2015 low – July 2015 high, the Aussie dollar remains on the front foot. The AUD/USD pair was last seen trading higher around 0.7416 levels.

Moreover, the strength in the AUD/USD further boosted the AUD/JPY cross. The negative Japanese core CPI print released earlier today was largely ignored by the FX markets.

AUD/JPY Technical Levels

The AUD/JPY pair was last seen trading around 84.45. A break above 84.61 (monthly 100-MA) would open doors for 85.00 levels (zero figure). A violation there could yield further rally to 86.00 (zero figure). On the lower side, failure to hold above 84.00 would shift risk in favor of a drop to 83.48 (Wednesday’s high) and 83.14 (5-DMA).