AUD/JPY – Looking to re-test 80.00 levels

Omkar Godbole FXStreet Contributor

Despite having retreated from the three-month high of 80.02 yesterday, the bid tone around AUD/JPY refuses to die down, with the pair looking to test supply around the psychological level again.

The currency pair was last seen trading around 79.82 levels.

Focus on China data

China GDP, Industrial production and retail sales release is due for release later today. Off late reports have been doing the rounds that China’s economic rebalancing process is reversing. If that is true, we could see a strong industrial production and GDP numbers.

The data could influence broader market sentiment and thus trigger big moves in AUD/JPY, which is largely seen as a risk barometer.

AUD/JPY Technical Levels

A break above 80.17 (200-DMA + weekly classic pivot R1) would open doors for 81.51 (July 15 high) and 82.00 (zero figure) levels. On the lower side, Asian session low of 79.58 could offer support which if breached would shift risk in favour of a cut through 79.29 (5-DMA) and drop to 79.00 levels.

	TREND INDEX	OB/OS INDEX	VOLATILY INDEX
15M	Bullish	Overbought	Shrinking
1H	Bearish	Neutral	Low
4H	Bullish	Neutral	Low
1D	Bearish	Overbought	Shrinking
1W	Bullish	Neutral	Low
Updated Oct 19, 00:00 GMT

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD off highs, back to 1.1850

EUR/USD loses some upside momentum, returning to the 1.1850 region amid humble losses. The pair’s slight decline comes against the backdrop of a marginal advance in the US Dollar as investors continue to assess the latest US CPI readings.

GBP/USD advances to daily tops around 1.3650

GBP/USD now manages to pick up extra pace, clinching daily highs around 1.3650 and leaving behind three consecutive daily pullbacks on Friday. Cable’s improved sentiment comes on the back of the inconclusive price action of the Greenback, while recent hawkish comments from the BoE’s Pill also collaborates with the uptick.

Gold surpasses $5,000/oz, daily highs

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The yellow metal’s upside is also propped up by the lack of clear direction around the US Dollar post-US CPI release.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.