AUD/JPY slumps to fresh lows near 79.60
|The cross in the AUD/JPY failed once again to resist above 80 handle on Friday, now trades in the red zone above the immediate support located at 5-DMA.
AUD/JPY supported above 5-DMA at 79.73
The AUD/JPY pair, currently, trades -0.35% lower at fresh session lows of 79.64, losing sight of 80 handle. The AUD/JPY cross is seen breaking lower, as ongoing weakness in the AUD/USD pair continues to overshadow the bullish momentum behind the dollar-yen pair.
Moreover, a cautious tone prevalent across the financial markets ahead of the US GDP report, also keeps the selling pressure intact in the AUD/JPY cross. All eyes now remain on the US GDP figures lined up release later on the day, while next week’s BOJ policy meeting will also remain in focus for further yen moves.
AUD/JPY Technical Levels
To the upside, the next resistance is located at 80.33 (multi-month highs) and above which it could extend gains to at 80.50 (psychological levels).To the downside immediate support might be located 79.54 (10-DMA) below that at 79.12 (20-DMA).
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