AUDJPY ticks off MA breaks on risk-on trades

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Moves above 100 and 200 hour MA and 100 bar MA on the 4-hour chart too.

The AUDJPY has caught a bid on the back of stronger risk-on flows. The USDJPY has moved higher. The AUDUSD has also moved higher. That is the recipe for a decent move higher in the AUDJPY.

Indeed, the price has move above the 100 and 200 hour MAs AND the 100 bar MA on the 4-hour chart.  
Admittedly, the price has move back down to test the 100 bar MA on the 4-hour chart at 79.80 but if the price hold, the 38.2% of the move down from the Sept 26th high, comes in at 80.06. That is the next target. 
The run higher is being helped by higher stocks.  Trump comment that there will be a great deal with China, if helping risk-on sentiment. In addition to the Nikkei being up 1.25% and the Shanghai composite now up 0.72%, the S&P futures are up 14.4 points and the Dow futures are up 110 points.  Hope springs eternal.  



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