AUD/JPY: carrying on with risk-off offers, now breaking 81.00
By FXStreet FXStreet (Guatemala) – AUD/JPY has slid below the 81 handle with USD/JPY losing the 117 handle in style by 57 pips so far at time of writing and AUD/USD down over 0.50% already in early Asia. The theme remains risk-off and the crosses downside as a great barometer of that.
AUD/JPY has already lost circa seven big figures since the open of 2016 as markets opened with investors looking for safe havens as the Chinese crisis exploded to higher levels with stocks dropping so sharply, at times over 7% for the authorities to close trading automatically.
The Yen has been the best performer besides the greenback showing a net long on the CFTC positioning data last week for the first time since early Abenomics back in September 2013 as the Fed’s and other Central Bank’s divergences underpin the greenback – however, USD/JPY has already lost approximately 7 big figures since Dec 2015 and today.
AUD/JPY levels
Should the August lows of 2015 at 116.07 give way, the cross is destined to find lower grounds, remaining below the 200 week SMA at 81.34 currently and the price could have a look in at 0.7939, the 3rd Oct 2012 weekly …read more
Source:: FX Street
