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8 Feb 2016
AUD/JPY offered below 20 dma
AUD/JPY is offered below the 100 dma at 86.03 having scored below the 20 dma now at 82.82.
The aussie is performing on the basis that markets are on the fence as to whether the Fed can continue to hike in this environment.
The Yen can strengthen on a risk off scenario and flight to safety as investors look to protect assets while global stock markets and oil drive the risk appetite with China out for New Year celebrations.
AUD/JPY levels
AUD/JPY is in a downtrend below the 20 dma at 82.82 and enroute for the 2016 lows of 0.7975. The recent highs at 83.97 and the convergence of the 50 and 100 dmas is a strong level of resistance. The pivot is 83.14 and S2 is at 81.35
The aussie is performing on the basis that markets are on the fence as to whether the Fed can continue to hike in this environment.
The Yen can strengthen on a risk off scenario and flight to safety as investors look to protect assets while global stock markets and oil drive the risk appetite with China out for New Year celebrations.
AUD/JPY levels
AUD/JPY is in a downtrend below the 20 dma at 82.82 and enroute for the 2016 lows of 0.7975. The recent highs at 83.97 and the convergence of the 50 and 100 dmas is a strong level of resistance. The pivot is 83.14 and S2 is at 81.35