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AUD/JPY is gaining altitude amid risk-on in equities

  • Asian desks are offering JPY, possibly in response to risk-on action in the equities.
  • The AUD/JPY pair moved above 82.00 soon before press time and looks set to test the 200-hour moving average (HMA) of 82.24.

The AUD/JPY is solidly bid for the third day straight amid risk-on in equities.

The US President Trump was out on the wires earlier today, stating that he would intervene in the Huawei CFO case if it would help him reach a trade deal with China and boost national security. More importantly, he said that negotiations are happening and expressed readiness to meet President Xi Jinping again if required.

Simply put,  Trump said everything that would ease US-China trade tensions. As a result, equities and risk currencies like the AUD picked up a bid.

At press time, the S&P 500 futures are up 0.8 percent. Meanwhile, Asian heavyweights like Nikkei, Kospi, S&P ASX 200 are all trading in the green.

As a result, the AUD/JPY pair - which is widely considered a barometer of risk appetite -is extending the two-day winning streak. Currently, it is trading at 81.98, having clocked a session high of 82.06 a few minutes before press time.

Notably, the JPY cross has charted bullish higher-lows and higher-highs on the hourly chart. Further, the 50- and 100-hour MAs are reporting a bullish crossover. The pair, therefore, could test the 200-hour MA, currently lined up at 82.24.

AUD/JPY Technical Levels

AUD/JPY

Overview:
    Today Last Price: 81.98
    Today Daily change: 31 pips
    Today Daily change %: 0.380%
    Today Daily Open: 81.67
Trends:
    Previous Daily SMA20: 82.23
    Previous Daily SMA50: 81.22
    Previous Daily SMA100: 81.22
    Previous Daily SMA200: 81.88
Levels:
    Previous Daily High: 81.82
    Previous Daily Low: 81.23
    Previous Weekly High: 84.05
    Previous Weekly Low: 80.93
    Previous Monthly High: 83.22
    Previous Monthly Low: 79.84
    Previous Daily Fibonacci 38.2%: 81.59
    Previous Daily Fibonacci 61.8%: 81.46
    Previous Daily Pivot Point S1: 81.33
    Previous Daily Pivot Point S2: 80.98
    Previous Daily Pivot Point S3: 80.74
    Previous Daily Pivot Point R1: 81.92
    Previous Daily Pivot Point R2: 82.16
    Previous Daily Pivot Point R3: 82.51

 

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