AUD/JPY bearish below hourly 200 SMA

By FXStreet FXStreet (Guatemala) – AUD/JPY has been consolidating the downside of the recent pressures with the Yen favoured in times of uncertainty and the Aussie shunned on the economic outlook while data has not been very pleasant to the Aussie.

AUD/JPY pressures easing, for time being

AUD/JPY dropped from the vicinity of the hourly 50 SMA of highs on the 31st Aug of 86.46 to loss of 83.64 on the 1st Sep where the cross has been a chop along this support line accomplishing a high of 85.13 the next day, but better offered since albeit printing higher lows on the decent. China has been out these past couple of sessions, allowing some upside with the lack risk of further poor economic performance reported, but we move into the G20 this weekend where remarks from Central Bankers in respect of China could be damaging for the cross. Tonight comes with the Nonfarm Payrolls and these will be defining for the weeks ahead for the greenback.

AUD/JPY levels

The downside, 82.00 is a psychological level of support that if broken opens to 79.40 Oct 3rd 2012 lows. On any further recovery, the 200 DMA at 93.59 comes as a tough area of resistance, …read more

Source:: FX Street