AUD/JPY still down near the bottom after losing the 84.0 handle
|- AUD/JPY still near the bottom with little bidding.
- Aussie continues to suffer from little data.
AUD/JPY is continuing to trade flat in the overnight session following a tumultuous but sideways Thursday, trading near 83.70 heading into the Tokyo market open.
With little data out for the AUD this week, AUD/JPY has been a measure of market sentiment, with traders flocking into and out of the Yen as appetite swings amid bouts of risk aversion.
The immediate reaction to positive Japan inflation figures was muted, but traders can expect further impact heading through the Tokyo session's first few hours. Headline CPI for Japan came in at 1.4%, better than the anticipated 1.3% forecast, and a healthy improvement from the previous 1.0% reading.
AUD/JPY Technicals
The pair is still deeply in bearish territory and trading near an eight-month low; the 200-day SMA is high overhead at 86.54 and the 34 EMA is still declining, trying to catch up to the price after crossing over the 200 SMA and headed lower from 85.87. Support is thin in this area, with 83.40 standing alone while resistance piles on from 84.54 and 85.27.
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