AUD/JPY rebounds from 10-DMA on strong China PMI readings

AUD/JPY rebounded from the 10-DMA level of 79.59 levels after the batch of private and government PMI data in China bettered estimates. 

Hovers around hourly 100-MA

The cross is trading around the hourly 100-MA level of 79.84 levels. China NBS manufacturing PMI printed higher-than-estimate of 51.2. On similar lines, Caixin PMI bettered estimates by printing at 51.2. 

The improvement in the pace of expansion in the activity helped the AUD/JPY cross turn positive. 

AUD/JPY Technical Levels

A break above the psychological level of 80.00 would open doors for 80.78 (July 18 high), above which a major hurdle is seen at 81.51 (July 15 high). On the lower side, breach of support at 79.78 (5-DMA) could yield a test of support at 79.59 (10-DMA) and 79.00 (zero figure). 


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