AUD/JPY turns 83.00 into support, stays afloat on China inflation miss

• Aussie holds in place after China inflation misses cleanly.
• Japan data giving the Yen a poorly-timed boost as AUD bulls fight to break new ground.

The AUD/JPY fell from 83.30, but is holding steady near 83.15 after recovering from the 83.00 handle.

Japan Machine Orders figures buoyed the Yen in early Tokyo trading with the month-on-month figure printing at 2.1 percent, a clear beat of the expected -2.5 percent contraction, but still under the previous reading of 8.2 percent.

China's inflation softens more than expected in March

Chinese inflation data is having a minimal effect on the AUD for now, but the release was a broad miss for China, with Consumer Price Index (MoM) (March) coming in at -1.1 percent vs -0.5 percent expected.

The next challenge for Aussie traders will be the Reserve Bank of Australia's (RBA) Phillip Lowe, who will be speaking to markets at 05:00 GMT.

AUD/JPY Levels to watch

As noted earlier, the pair's technical outlook remains similar with muted effects from Asia session data, and a bullish continuation will have to mount resistance at March's high of 84.52, and a bearish correction should run into immediate support from the 34-day EMA currently at 82.75, while a break of that level will see further support from the last swing low at the 82.00 major handle.