Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

AUD/JPY plunges further to fresh lows for the year as risk aversion deepens

A.R Chowdhury by A.R Chowdhury
August 19, 2021
Reading Time: 1 min read
0

AUD/JPY slides by 1.4% on the day to 78.25, lowest since December last year

AUD/JPY D1 19-08

AUD/JPY is one of the key barometers for risk sentiment and it isn’t painting a pretty picture since the start of the week, after slipping below the 20 July low @ 79.84.

The drop today also takes out the 28 January low @ 79.20 and that leaves little support all the way towards the 38.2 retracement level @ 77.98 next.

The aussie itself has already been in a troubling spot amid the virus situation in Australia but renewed concerns in the market on the delta variant globally this week – after having seen NZ enter into lockdown and the RBNZ putting off its plan to hike rates.

In European trading so far today, equities are coming under pressure with European indices posting hefty losses between by 1.4% to 2.8% across the board while US futures are also pressured lower by roughly 1% at the moment.

The yen is getting a strong tailwind as 10-year Treasury yields slide by 5 bps to near 1.22%, even outperforming the dollar now as USD/JPY falls from 110.20 to 109.50.

Going back to AUD/JPY, the drop now also looks to take out the 200-week moving average at 78.60 and given the underlying backdrop, it looks like we may see more pain to follow before the week comes to an end.

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post

AUD/USD extends drop to 1% on the day as downside pressure accelerates

USD/JPY sees early gains erased as risk tones sour

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

EURUSD trades up and back down as market consolidates near but below highs

July 30, 2020

GBPUSD moves to a new week low

April 4, 2020

AUDUSD stays confined in up and down range

March 31, 2022

Popular Stories

  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
  • What is CFD trading?

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.