AUD/JPY remains below Thursday's high despite uptick in China's Industrial Production

  1. The AUD/JPY pair is struggling to pick up a bid despite the solid rebound in China's factory activity. 
  2. China's GDP growth slowed to the lowest since 1992 in the third quarter. 
  3. The pair may drop below 74.00 if equities turn risk-averse due to the dismal China GDP. 

AUD/JPY is struggling to gather upside traction and remains well below Thursday's high of 74.40 despite the stronger-than-expected rebound in China's factory activity.

The Industrial Production rose at an annualized rate of 5.8%, beating the forecasted rebound to 5% from August's print of 4.4% by a big margin.

Even so the AUD, a proxy for China and a Commodity Dollar, is not finding takers. Notably, AUD/JPY has pulled back from 74.30 to 74.15. The AUD's failure to cheer the Industrial Production could be associated with China's dismal third-quarter growth rate released at 02:00 GMT.

The gross domestic product (GDP) for the July-September period came in at 6% - the worst quarterly reading since 1992 - missing the forecasted rate of 6.1% and down from the preceding quarter's 6.2% print.

Further, Mao Shengyong, spokesman for the National Bureau of Statistics, said the country is facing mounting risks and challenges both at home and abroad, possibly keeping traders from buying the AUD on upbeat factory data.

Looking forward, the AUD/JPY pair may face increasing selling pressure if the global equities turn risk-averse in response to the dismal China GDP, boosting demand for the anti-risk Japanese Yen. As of writing, the pair is trading largely unchanged on the day at 74.11.

Technical levels


Today last price 74.15
Today Daily Change 0.00
Today Daily Change % 0.00
Today daily open 74.15
Daily SMA20 72.81
Daily SMA50 72.63
Daily SMA100 73.79
Daily SMA200 76.07
Previous Daily High 74.4
Previous Daily Low 73.38
Previous Weekly High 73.96
Previous Weekly Low 71.84
Previous Monthly High 74.5
Previous Monthly Low 71.1
Daily Fibonacci 38.2% 74.01
Daily Fibonacci 61.8% 73.77
Daily Pivot Point S1 73.55
Daily Pivot Point S2 72.96
Daily Pivot Point S3 72.53
Daily Pivot Point R1 74.57
Daily Pivot Point R2 75
Daily Pivot Point R3 75.59




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. 


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.


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