AUD/JPY hovers at one-month high ahead of China data
|Aussie bulls are being supported by a moderate uptick in the USD/JPY pair in Asia, thus pushing the AUD/JPY cross stays to one-month high of 86.22 levels.
Focus on China trade numbers
China trade surplus in US dollar terms is seen widening to $46.50 billion in December. Exports are seen falling 3.5%, while the imports are seen rising 2.7%.
The drop in the exports should not come as a surprise, although slowdown in the import growth (previous figure was 6.7%) is indicative of the fact that the rebalancing process is far from done.
A strong data could boost risk sentiment and AUD/JPY cross and vice versa.
AUD/JPY Technical Levels
A break above 86.61 (Dec 12 high) would expose resistance at 87.00 (zero figure), above which the cross may test offers at 87.53 (Dec 15 high). On the other hand, a failure to hold above 86.00 (zero levels) would open the doors to 85.70 (5-DMA) and then to 85.29 (10-DMA).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.