AUD/JPY trades near 5.5-month lows ahead of China data

AUD/JPY is flashing red below 75.00 in Asia.
China’s retail sales and industrial production data is due for release at 02:00 GMT.
A below-forecast data could add to the bearish tone around AUD/JPY.

Omkar Godbole FXStreet Contributor

AUD/JPY is feeling the pull of gravity ahead of China’s retail sales and industrial production release.

The currency pair is currently trading at 74.89, having hit a high of 74.97 earlier today. More importantly, the cross is sitting closer to 74.77 hit yesterday. That was the lowest level since early January.

China data due at 02:00 GMT is expected to show the consumer spending as represented by retail sales rose at an annualised rate of 8.1% in May. Meanwhile, industrial production is forecasted to rise 5.5% year-on-year in May.

An above-forecast China data, particularly industrial production, could bode well for the AUD and other commodity currencies and riskier assets.

However, if the data misses estimates, then the AUD/JPY could print a fresh 5.5-month low below 74.77.

Technical levels

AUD/JPY

Overview
Today last price	74.89
Today Daily Change	-0.07
Today Daily Change %	-0.09
Today daily open	74.96

Trends
Daily SMA20	75.61
Daily SMA50	77.33
Daily SMA100	78.07
Daily SMA200	79.18

Levels
Previous Daily High	75.29
Previous Daily Low	74.77
Previous Weekly High	75.91
Previous Weekly Low	74.96
Previous Monthly High	78.72
Previous Monthly Low	75.08
Daily Fibonacci 38.2%	74.97
Daily Fibonacci 61.8%	75.09
Daily Pivot Point S1	74.72
Daily Pivot Point S2	74.49
Daily Pivot Point S3	74.2
Daily Pivot Point R1	75.24
Daily Pivot Point R2	75.53
Daily Pivot Point R3	75.76

Author

Omkar Godbole

FXStreet Contributor

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

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