- AUD/JPY recovered from the Nonfarm Payrolls slide down to 83.26 lows and has continued uptrend
- The Yen gave back most of its NFP-backed gains and is set for a downside test as the US dollar remains firmer on its recovery-mode
- On the other hand markets cheered impressive Australia job ads data which rebounded 3.9% in Sept versus a 1.3% rise in Aug, fastest rise in 15 months
- However, the liquidity remains thin as most Australian banks will be closed in observance of Labor Day
- AUD/JPY is currently trading at 84.76 after hitting a high of 84.92 and a low of 84.51 on the day
- Strong resistance for the pair is at 85.00, breaks above could see gains to 0.8650 levels
- Supports on the flipside are seen at 84.51 (session low 5th Oct) and further below at 84.00 (Tenkan-Sen)
Recommendation: Good to buy dips around 84.60, SL: 84.40, TP: 85.00
The material has been provided by InstaForex Company – www.instaforex.com