AUD/JPY has a rough start, sinking towards 81.50 on China data miss

The Aussie is taking a bit of a beating against its peers for Friday, shedding most of the week's gains in the Pacific session.
China's Retail Sales figures beat expectations, as did Japan's data early in the day, leaving the AUD in the dust.

Joshua Gibson FXStreet

The AUD/JPY pairing sees Friday's trading getting underway on a notably bearish bent, dropping from the 82.00 handle into 81.50 in risk-off Asian markets for the early session.

The Aussie was helped further lower by Chinese macro figures which showed China's annualized Retail Sales into November slow to 8.1% versus the expected 8.8%, and slowing domestic demand in China bodes poorly for the Aussie, helping to drive the pair further lower against the safe-haven Japanese Yen.

Japanese data released at the Friday rollover showed Japan's Tankan Manufacturing series broadly perform better than expected, helping the Yen to find its footing; the fourth quarter's Tankan Non-Manufacturing Index climbed to 24 (forecast 21, previous 22) while Japan Tankan Large All-Industry Capex came in at 14.3% (forecast 12.7%, last 13.4%), and the surprisingly robust figures from Japan are helping to further skewer the AUD/JPY pairing.

AUD/JPY Technical Levels

AUD/JPY

Overview:
    Today Last Price: 81.65
    Today Daily change: -44 pips
    Today Daily change %: -0.536%
    Today Daily Open: 82.09
Trends:
    Previous Daily SMA20: 82.17
    Previous Daily SMA50: 81.25
    Previous Daily SMA100: 81.21
    Previous Daily SMA200: 81.87
Levels:
    Previous Daily High: 82.21
    Previous Daily Low: 81.64
    Previous Weekly High: 84.05
    Previous Weekly Low: 80.93
    Previous Monthly High: 83.22
    Previous Monthly Low: 79.84
    Previous Daily Fibonacci 38.2%: 81.99
    Previous Daily Fibonacci 61.8%: 81.86
    Previous Daily Pivot Point S1: 81.75
    Previous Daily Pivot Point S2: 81.41
    Previous Daily Pivot Point S3: 81.18
    Previous Daily Pivot Point R1: 82.32
    Previous Daily Pivot Point R2: 82.55
    Previous Daily Pivot Point R3: 82.89

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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