AUD/JPY takes a dive on risk aversion
The bid tone around the Japanese Yen strengthened in Asia on heightened geopolitical tension, pushing the AUD/JPY to a session low of 81.99 levels.
Trades around 200-DMA
The cross was last seen trading above the 200-DMA level of 82.05 levels. The sell-off in the pair ran out of steam last week around the 200-DMA, but the subsequent rebound fell apart near 83.00 levels.
As of now, the strong China data are ensuring the cross stays above the 200-DMA.
However, the key support level could be eventually breached as the focus remains on the US-North Korea tensions. The safe havens like JPY are likely to remain well bid, especially in the holiday-thinned trading.
AUD/JPY Technical Levels
A daily close below the 200-DMA level of 82.05 would open doors for 81.11 (Nov 18 low) and 81.00 (zero levels). On the higher side, breach of the session high of 82.42 would expose 82.88 (10-DMA) and 83.23 (Apr 4 low).
Author
Omkar Godbole
FXStreet Contributor
Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.
