AUD/JPY keeps gains on upbeat China PMI data

AUD/JPY pays little attention to the upbeat China PMI data released just now. The currency pair continues to trade around 84.65 levels after having clocked a high of 84.82 earlier today. 

China Caixin PMI manufacturing data printed above 50.00 for the fifth straight month. The actual figure came-in at 50.9 compared to the estimate of 50.8. 

The government PMI numbers released earlier today also bettered estimates, but failed to strengthen the Aussie. Moreover, the focus remains on the oil prices, which are having a breather following Wednesday’s 9% rally. 

AUD/JPY Technical Levels

A failure to hold above the monthly 100-MA level of 74.45 would shift risk in favor of a drop to 74.00 (zero figure), under which the losses could be extended to 83.27 (Oct 2015 low). On the higher side, breach of 85.00 (zero figure) levels could yield a test of 85.57 (Nov 2015 low). A violation there would expose 86.21 (Dec 2015 low).