AUD/JPY slumping towards 77.00 as Aussie traders look towards China PMI data
- Aussie lagging behind to kick off 2019, ticking into two-year lows against the Yen.
- China PMI figures due early today to kick off 2019's overall tone.
AUD/JPY is trading into the familiar low end, clipping into 77.15, a two-year low for the pair as the soft-bellied Aussie continues to slide against the Japanese Yen in risk-off markets.
With Japanese markets shuttered for both today and tomorrow's holidays, action in the Aussie-Yen pairing is seen coming from the AUD side, where investors are stepping into the new year with plenty on their plates to continue worrying about, from a steepening slowdown in China's domestic economy threatening to tip over Australia's own economy, while the US continues to chase trade-war policies that shake up the Pacific-Asia sector as investors shield themselves from fallout.
China's Caixin Manufacturing PMI for December is expected early Wednesday at 01:45 GMT, and with the headline figure forecast to slip from 50.2 to 50.1, bearish traders looking for a reason to continue selling the AUD may find it if the figures miss, while the steady JPY looks forward to enjoying a high market premium as the safe haven of choice.
AUD/JPY Technical Levels
Today Last Price: 77.23
Today Daily change: -21 pips
Today Daily change %: -0.271%
Today Daily Open: 77.44
Previous Daily SMA20: 79.85
Previous Daily SMA50: 80.98
Previous Daily SMA100: 80.81
Previous Daily SMA200: 81.64
Previous Daily High: 77.76
Previous Daily Low: 76.48
Previous Weekly High: 78.77
Previous Weekly Low: 77.43
Previous Monthly High: 84.05
Previous Monthly Low: 77.15
Previous Daily Fibonacci 38.2%: 77.27
Previous Daily Fibonacci 61.8%: 76.97
Previous Daily Pivot Point S1: 76.7
Previous Daily Pivot Point S2: 75.95
Previous Daily Pivot Point S3: 75.42
Previous Daily Pivot Point R1: 77.97
Previous Daily Pivot Point R2: 78.5
Previous Daily Pivot Point R3: 79.24