AUD/JPY rises above 200-day MA for the first time since February

• AUD/JPY is attempting gains above the 200-day MA for the first time since Feb. 6.
• The positive action in the JPY cross likely indicates that risk aversion is unlikely despite the split US Congress.

The AUD/JPY is currently reporting marginal gains at 82.20.

More importantly, the JPY cross has peeped above the 200-day moving average (MA), currently at 82.12, for the first time since Feb. 6.

The bullish development is somewhat surprising as the wires are reporting that the US Congress is heading for a split. That could lead to policy paralysis and political turmoil in Washington.

Indeed, the greenback is losing altitude as Democrats have likely regained control of the House. The stocks, however, are mildly bid and may report bigger gains during the day ahead, as indicated by the uptick in the AUD/JPY – the risk barometer.

AUD/JPY Technical Levels