AUD/JPY ignores downbeat catalysts from Japan as risk sentiment dwindles


  • AUD/JPY eases further from the multi-month top as US-China trade uncertainty prevails.
  • Renewal of the Hong Kong tension takes over BOJ Summary of Opinions, Japanese data.
  • Japan’s Eco Watchers data up on the radar for now.

With the renewed tension surrounding Hong Kong protests and on-going uncertainty concerning the US-China trade relations, AUD/JPY steps further backward from late-July highs to 74.83 amid Asian session on Monday.

While China’s Global Times keeps criticizing the United States' (US) trade protectionism, Trump’s administration’s lack of confirmation on stepping back the tariffs reignites the fear of another failed talks between the world’s two biggest economies.

Further, protests in Hong Kong turned severe with the Bloomberg news spotting protesters disrupted subways lines after the earlier South China Morning Post’s (SCMP) news marking a protester shot with live rounds by the police.

In a reaction, the S&P500 Futures flash 0.13% loss while Gold and the Japanese yen (JPY) seem to recover the latest losses.

Traders seem to have shrugged off Bank of Japan’s (BOJ) Summary of Opinions of the October monthly meeting, citing bearish bias, while also ignoring weaker than forecast numbers of September month Machinery Orders.

Markets now keep an eye over Japan’s Eco Watchers Survey data for October. While forecasts concerning the Outlook part favor 41.3 prints versus 36.9 prior, Current proportion of the survey is likely to have increased to 47.1 from 46.7 earlier. Additionally, trade headlines will continue entertaining investors.

Technical Analysis

A sustained break of short-term rising trend-line, now at 74.75, becomes necessary for sellers to revisit 21-day Simple Moving Average (SMA) level of 74.48, until then chances of its U-turn to 75.30 and the recent high near 75.65/70 stay on the cards.

additional important levels

Overview
Today last price 74.8
Today Daily Change -9 pips
Today Daily Change % -0.12%
Today daily open 74.89
 
Trends
Daily SMA20 74.47
Daily SMA50 73.56
Daily SMA100 73.73
Daily SMA200 75.77
 
Levels
Previous Daily High 75.56
Previous Daily Low 74.74
Previous Weekly High 75.68
Previous Weekly Low 74.56
Previous Monthly High 75.3
Previous Monthly Low 71.73
Daily Fibonacci 38.2% 75.05
Daily Fibonacci 61.8% 75.25
Daily Pivot Point S1 74.56
Daily Pivot Point S2 74.24
Daily Pivot Point S3 73.74
Daily Pivot Point R1 75.39
Daily Pivot Point R2 75.89
Daily Pivot Point R3 76.21

 

 

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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD hits highest since March amid US protests, European reopening

EUR/USD has jumped above 1.1150, trading at the highest since March. Protests in the US are grabbing the headlines and marginally supporting the dollar. European countries continue reopening their economies amid falling coronavirus statistics. 

EUR/USD News

GBP/USD resumes rally amid Brexit optimism, dollar weakness

GBP/USD is trading above 1.2550, extending its gains. Reports about British readiness to compromise in Brexit talks, conditioned on EU concessions, is helping boost the pound. US protests are eyed.

GBP/USD News

Bitcoin is three steps away from $14000

Bitcoin joins the list of bullish breakouts and leaves the relative highs at $14000 as a clear target in the short term. Ethereum continues to gain market share and sets the price level of $300 as a goal in the short term.

Read more

Gold trades with modest losses around $1735 level, downside seems limited

Gold traded with a mild negative bias through the early European session and was last seen hovering near the lower end of its daily range, around the $1735 region.

Gold News

WTI sits at three-month highs near $36.50 ahead of Russia’s decision, API

WTI (July futures on Nymex) broke its bullish consolidative phase to the upside in the European session and clinched fresh three-month highs at 36.48.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures