AUD/JPY remains quiet near 19-week low due to lack of fresh catalysts

  • Absence of fresh directives offers rest to the bears.
  • Overall sentiment remains in favor of sellers due to risk-off moves.

Even after declining to the lowest since early-January, AUD/JPY refrained from extending its downside further as it traders near 75.70 on initial Friday.

The broad Australian Dollar (AUD) weakness on the back of RBA’s rate cut expectations could be considered as an important reason for the quote’s latest decline.

Additionally, the market’s risk on sentiment due to the US-China trade tension and political disturbance between the US and Iran also played its role to please sellers.

However, the downside was capped as the Wall Street remained positive after upbeat data from the US and some positive earnings report.

Global barometer of risk, 10-year treasury yield from the US, recovered nearly 2 basis points (bps) to 2.4% by the Thursday-end whereas losing nearly one bps to 2.39% during the press time.

Considering the lack of fresh catalysts, be it on the economic calendar or at the political front, prices might witness a short covering move unless additional data/news favor further risk aversion.

Technical Analysis

Not only recent low near 75.40 but January 04 bottom at 75.20 and 75.00 round-figure could also challenge sellers targeting 74.50 comprising July 2016 low.

On the contrary, 76.00 and a month-long trend-line at 76.50 seem adjacent upside stops, a break of which could please buyers with 77.00 and 77.45/50 resistance-area comprising multiple lows marked during January and March.

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD remains depressed but off daily lows

The EUR/USD pair is recovering from a daily low of 1.1216, although holding in negative territory for the day. US preliminary Michigan Consumer Sentiment Index improved by less-than-anticipated in July, coming in at 98.4 vs. the 98.5 expected.


GBP/USD trading marginally lower daily basis but above 1.2500

The Pound gave back some of its Thursday’s gain on dollar’s relief. The GBP/USD pair broke a daily descendant trend line coming from June’s high and holds above it, leaving little room for sellers to act.


USD/JPY: bears pausing, still in control

Japanese National Inflation steady at 0.7%YoY in June. US Michigan Consumer Sentiment Index expected at 98.5 in July. USD/JPY corrective advance falling short of signaling an interim bottom in place.


Gold consolidates around $ 1440, eyes US data for fresh direction

Gold (futures on Comex) extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.

Gold News

Something has spooked the Fed

We wish we knew what it is. Wild talk of the US joining Japan and Europe with zero or negative return on the 10-year is or should be very frightening.

Read more