AUDJPY pair is clawing back after tanking to 85.00 in the previous session. Risk aversion has settled down for now but could come back if markets lose their nerve. Read the 7 February AUDJPY Technical Outlook to see how the pair trades currently.
7 February, GKFX – AUD/JPY managed to hike itself back up the charts after a drop off the precipice recently and finds itself trading back down to the 86.35 handle in early Asia trading. The Aussie has been pummeled lately as global markets lost their risk appetite and traders flocked into safer assets.
Very little economic data on the radar for either currency this week except for the RBA’s Governor Lowe, who will be giving a statement at 09:00 GMT on Thursday. AUD pairs can also expect a bump in volatility if any surprises leak out of the RBNZ’s interest rate decision later today at 20:00 or the ensuing press conference at 21:00.
7 February AUDJPY Technical Outlook
The pair is dropping during early Asia trading, with swing support/resistance at 86.36 and 86.73 respectively, while Daily charts are currently playing tug-of-war on the 200-day SMA, sitting at 86.50.
Today’s pivot points:
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