AUD/JPY finds itself knocking on 84.00 after Monday bullish gap

Risk-on market open sees the AUD surging against the JPY.
A data-thin Monday greets the Aussie-Yen pairing, leaving bulls to take the table for the day's early action.

Joshua Gibson FXStreet

AUD/JPY finds itself kicking off the new week atop a bullish gap, opening up Monday's market near the 83.90 region, hitting nearly a 90-pip gap on the week's opening candles, THe pair remains near the 83.70 zone as Monday's early trading session carries on, but sellers will be looking to get the bullish gap closed in the hours to come.

This weekend's G20 Leaders' Summit ended with relative success, and the Trump-Xi sideline meeting saw both the US and China vowing to hold off on any further tariffs or tariff rate hikes for an extended 90 days, helping to draw risk appetite back out of the market's back pocket, sending risk-based assets like the Aussie up the charts for the new week.

The economic calendar brings Australian Building Permits for November at 00:30 GMT (forecast 3.0%, previous 3,3%) with China's Caixin Manufacturing PMI forecast to slip to the totally-flat reading of 50.0%, versus the previous 50.1%, which is slated to come in sometime around 01:45 GMT.

AUD/JPY Technical Levels

AUD/JPY

Overview:
    Today Last Price: 83.73
    Today Daily change: 77 pips
    Today Daily change %: 0.928%
    Today Daily Open: 82.96
Trends:
    Previous Daily SMA20: 82.26
    Previous Daily SMA50: 81.2
    Previous Daily SMA100: 81.28
    Previous Daily SMA200: 81.91
Levels:
    Previous Daily High: 83.09
    Previous Daily Low: 82.74
    Previous Weekly High: 83.22
    Previous Weekly Low: 81.58
    Previous Monthly High: 83.22
    Previous Monthly Low: 79.84
    Previous Daily Fibonacci 38.2%: 82.87
    Previous Daily Fibonacci 61.8%: 82.96
    Previous Daily Pivot Point S1: 82.77
    Previous Daily Pivot Point S2: 82.58
    Previous Daily Pivot Point S3: 82.42
    Previous Daily Pivot Point R1: 83.12
    Previous Daily Pivot Point R2: 83.28
    Previous Daily Pivot Point R3: 83.47

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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