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  • For AUD/JPY, the path of least resistance is on the higher side, as indicated by the rising trendline and upward sloping 50-, 100-, and 200-hour exponential moving averages (EMAs). However, both relative strength index (RSI) and stochastic are flashing overbought readings.
  • The Aussie retail sales data released a few minutes before press time showed that consumption growth slowed to 0.2 percent month-on-month in September from the previous month’s print of 0.3 percent.
  • The combination of weaker-than-expected retail sales and overbought conditions on the hourly chart indicate scope for a minor pullback in the AUD/JPY.
  • Pullbacks to levels below 81.00, if any, will likely be short-lived, as Trump’s positive comments on the US-China trade relations could boost risk appetite.

Hourly Chart

Trend: Pullback likely


       Last Price:  81.3
       Daily change:  8.0  pips
       Daily change:  0.0985%
       Daily Open:  81.22
       Daily SMA20:  79.89
       Daily SMA50:  80.5
       Daily SMA100:  81.22
       Daily SMA200:  82.27
       Daily High:  81.28
       Daily Low:  79.81
       Weekly High:  80.32
       Weekly Low:  78.56
       Monthly High:  82.5
       Monthly Low:  78.56
       Daily Fibonacci 38.2%:  80.72
       Daily Fibonacci 61.8%:  80.37
       Daily Pivot Point S1:  80.27
       Daily Pivot Point S2:  79.31
       Daily Pivot Point S3:  78.8
       Daily Pivot Point R1:  81.73
       Daily Pivot Point R2:  82.23
       Daily Pivot Point R3:  83.19