AUD/JPY breaks below 83.00, mainly on Aussie weakness

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Bali) - AUD/JPY is trading off its 2-week high reached last Friday, current quoted a few pips sub 83.00 handle, with the Nikkei 225 having come under selling pressure in the early going of Tokyo, last +0.5%.

    NAB bus conf off highs, at decent levels

    In Australia, ahead of Tuesday's public holiday, NAB released its latest December business conditions, which came in at 7 vs 10, while confidence stood at 3 vs 5. NAB concluded that business confidence remains resilent to financial market turmoil (for now), while business conditions suggest non-mining recovery remains on track.

    AUD/JPY key levels

    Should today's decline extend further down, the next level of support can be found at 82.65 (double bottom last Friday), followed by 82.50 mid round number and 82.35 (daily S1), ahead of 82.00 round number. On the topside, 83.00 is the first hurdle ahead of 83.50 (last Friday's high), followed by 83.75 (daily R1) and 84.00.
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