AUD/JPY jumps above 1-hr 200-MA ahead of China PMI release

AUD/JPY has moved above the 1-hr 200-MA level of 84.46 ahead of the China data release which is expected to show the manufacturing activity remained robust in December.

The Caixin China manufacturing data for December is expected to come-in at 50.7 vs. 50.9 in November.

Earlier today, the data released in Australia showed the manufacturing activity picked up at the end of the year as output, sales, exports and new orders all rose. Australian Industry Group's performance of manufacturing index (PMI) rose 1.2 points to 55.4 in December.

The upbeat data could have helped the AUD/JPY cross breach the 1-hr 200-MA hurdle. However, the bird is struggling to extend gains further and was last seen trading just above 84.50 levels.

AUD/JPY Technical Levels

A break above 84.86 (Dec 28 high) could yield a break above 85.00 (zero figure), in which case the major hurdle at 85.75 (Dec 21 high) could be put to test. On the other hand, a breakdown of support at 84.37 (10-DMA) would expose support at 84.00 (zero figure) and 83.74 (Dec 29 low).