AUD/JPY support tested again at 84.00

By FXStreet FXStreet (Guatemala) – AUD/JPY is currently trading at 84.28 with a high of 85.22 and a low of 84.02.

AUD/JPY remains better offered within the recent bearish trend from the halfway mark on the 85 handle and has met support for a second time since yesterday’s Asian session downside to test the resilience of the bulls protecting the 84 handle.

The Chinese data in Asia was very poor in the manufacturing sector and lead to a weaker Aussie and bids for the Yen. The number for the Caixin manufacturing reading for September was 47 vs 47.5 expected, lowest since 2009. Risk appetite remains low and also weighs on the cross.

AUD/JPY technicals heading into oversold

Pressure continues to come in below the 50/200 SMA bearish cross at 85.80 while the strong downward momentum leaves the pivot well behind at 86.03 and RSI (14) at 34 towards oversold territory and MACD turning negative.
For more information, read our latest forex news. …read more

Source:: FX Street