AUD/JPY attempts recovery, but stays below 87 amid risk-off
|The AUD/JPY cross stalled its recovery from a dip to 86.70 region, as the sentiment remains weighed down by poor Aussie data and mixed Chinese economic releases.
The cross drops -0.14% to trade at 86.85, struggling hard to regain 87 handle. The cross remains on the offers amid moderate risk-aversion, as markets refrain from creating fresh positions in AUD/USD and USD/JPY ahead of the Fed and BOJ policy decisions.
Also, plenty of economic data due from the US and Australia, including the US CPI, retail sales and Aus jobs data, keep any recovery in AUD/JPY short-lived.
Attention now shifts towards the US PPI data due later today, in the meantime the cross will continue to take cues from the broader market sentiment.
Technical Levels
Higher side: 87.27 (classic R1/ Fib R2), 87.50 (Mar 2 high/ round figure), 88.17/23 (Feb 15 & 16 high)
Lower side: 86.46/52 (10 & 50-DMA), 85.80 (Feb-end lows), 85.17/14 (Feb 7 & Jan 31 low)
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