AUD/JPY: Focus on on NAB data and today's close

• Back-to-back doji candles signal indecision in the marketplace.
• Today's close will likely set the tone for the next move.
• Focus on NAB business conditions and business confidence number.

AUD/JPY created doji candle for a fourth straight session on Friday, signaling indecision/pullback from the April 13 high of 84.08 has run out of steam.

A close above 82.65 (May 2 high) would signal bull doji reversal and open the doors to re-test of the April highs. Meanwhile, a close below 81.67 (Friday's low) would signal resumption of the sell-off from 84.08.

An uptick in the National Bank of Australia (NAB) business confidence and business conditions index may put a bid under the AUD pairs. On the other hand, a big drop in the confidence numbers could yield a convincing break below the key support of 81.67.

As of writing, the cross is trading at 82.00. The BOJminutes released a few minutes ago stressed the need to keep the ultra-easy policy going but did not have a notable impact on the pair.

AUD/JPY Technical Levels

A close below 81.67 (Friday's low) would open the doors to 81.49 (March 5 low) and 81.26 (March 19 low). On the higher side, a move above the resistance at 82.47 (50-day MA) would expose 82.65 (May 3 high and 83.00 (psychological support).