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AUD/JPY downside playing out

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUD/JPY is currently trading at 81.0 with a high of 0.8131 and a low of 80.87.

    AUD/JPY has been sold-off in a risk-off start to the week following the Brexit concerns and negative outlook for Europe. Meanwhile, more domestically for the cross, this week will be a block buster for the Australian economy with GDP, the RBA and Chinese PMI's. As risk aversion persists, the Yen should continue to be underpinned and the cross is a renowned barometer in the FX space at least for measuring the level risk apatite in the markets.

    AUD/JPY levels

    AUD/JPY is within a short-term bear trend within the current range between 79.59 and 82.41 while on the wide the recent low has been 77.56 within the broader bear trend from above the 90.0 handle and below the weekly 200 sma at 90.23. Spot is below the pivot of 81.43 with downside levels as 80.42 S2 and S3 at 79.83.
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