AUD/JPY bounces off 23.6% fib support, tests 88.00 handle

AUD/JPY bounced off 87.62 - 23.6% Fib R of 81.78-89.425 - in Asia and is eyeing the weekly 5-MA level of 88.01.  

The cross has retaken the 5-DMA level of 87.87 and 1-hour 100-MA level of 87.91. The 4-hour chart also shows a bearish crossover between the 50-MA and 100-MA. An uptick in the AUD/JPY suggests a potential for strength in the risky assets. 

The immediate focus is on the ANZ job advertisements figure for June, due at 01:30 GMT. A strong number could boost the Aussie dollar and open doors for a sustained rise above the 88.00 handle. 

AUD/JPY Technical Levels

A break above 88.24 [10-DMA + 4-hour 50-MA] would open doors for 89.00 [psychological figure] and 89.32 [July 19 high on 4-hour]. On the downside, breakdown of support at 87.69 [4-hour 10-MA + descending trend line support on the 4-hour chart] would expose 87.35 [Aug low] and 87.00 [4-hour 200-MA].