AUD/JPY attempts recovery, but stays below 87 amid risk-off

Dhwani Mehta FXStreet

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)

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Bullish	Neutral	Shrinking
1H	Bearish	Neutral	Expanding
4H	Bullish	Neutral	Low
1D	Bullish	Neutral	Low
1W	Slightly Bullish	Overbought	Low
Updated Mar 14, 03:00 GMT

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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