AUD/JPY holds above 200-HMA amid risk-on in equities

AUD/JPY is trading above the 200-hour moving average (MA) in Asia, having rallied 2 percent on Friday.
Improved risk sentiment and the resulting uptick in the stocks could bode well for the Aussie dollar.

The AUD/JPY pair is looking north amid risk-on in the global markets, having found acceptance above the 200-hour moving average (HMA) on Friday.

As of writing, the JPY cross is trading at 77.34 - up 2.8 percent from Friday's low of 75.2.

The global stocks picked up a bid on Friday on signs that Sino-US relations are back on track. The risk assets also cheered Powell's comments that the Fed will evaluate developments in the economy, financial markets and abroad in the coming months. As a result, the AUD/JPY pair jumped 2 percent.

Notably, Asian stocks are extending the Friday's risk-on rally. For instance, Japan's Nikkei is currently reporting a 3 percent gain. Further, the S&P 500 futures are up 0.68 percent, having gained more than 3.4 percent on Friday.

Therefore, the AUD and other risk currencies are likely to rise against the likes of JPY and CHF (funding currencies).

AUD/JPY Technical Levels

AUD/JPY

Overview:
    Today Last Price: 77.35
    Today Daily change: 17 pips
    Today Daily change %: 0.220%
    Today Daily Open: 77.18
Trends:
    Previous Daily SMA20: 79.04
    Previous Daily SMA50: 80.79
    Previous Daily SMA100: 80.68
    Previous Daily SMA200: 81.56
Levels:
    Previous Daily High: 77.3
    Previous Daily Low: 75.24
    Previous Weekly High: 78.08
    Previous Weekly Low: 70.71
    Previous Monthly High: 84.05
    Previous Monthly Low: 77.15
    Previous Daily Fibonacci 38.2%: 76.51
    Previous Daily Fibonacci 61.8%: 76.03
    Previous Daily Pivot Point S1: 75.84
    Previous Daily Pivot Point S2: 74.51
    Previous Daily Pivot Point S3: 73.78
    Previous Daily Pivot Point R1: 77.9
    Previous Daily Pivot Point R2: 78.63
    Previous Daily Pivot Point R3: 79.97

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.