AUD/JPY downside wide open on risk-off

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - AUD/JPY has fallen back below the 81 handle.

    This is on the back of lower oil, risk-off markets in falling stock prices and ongoing flight to safety while the Aussie can't even gain a sustainable bid on excellent jobs data or a stabilisation in the Yuan.

    The price in the cross went from 0.7000 yesterday to the lows of 0.6863. Data next week holds GDP Q4 for China and industrial production and retail sales for Dec y/y. Stocks and oil will continue to be a factor weighing on the cross.

    AUD/JPY levels

    Technically, the 200 month SMA at 81.34 was broken to open the lows of 80.17. Below here, 0.7939, the 3rd Oct 2012 weekly stick low comes as next target. Only a recovery through 83.40 recent double top might alleviate immediate downside risks.
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