AUD/JPY Technical Analysis: Eyes test of 50-day EMA on upbeat Aussie trade data

• Australia trade surplus shot higher in September, courtesy of a big jump iron ore and mineral-fuel exports, the Australian Bureau of Statistics (ABS) data released a few minutes ago showed.
• The upbeat data put a bid under the Aussie dollar, pushing it higher across the board. The AUD/USD is currently trading at 80.18, up 0.36 percent on the day, and could rise further toward the 50-day EMA of 80.48 as the technical charts are biased bullish.
• The daily chart shows a bullish divergence of the RSI and stochastic and a bullish crossover on the MACD. Further, the 5-day and 10-day EMAs are trending north, indicating a bullish setup.
• The news that UK's PM Theresa May has sealed a Brexit deal with the EU on financial services may push risk assets higher across the board. Thus, anti-risk JPY could take a beating.

Daily Chart

Trend: Bullish