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AUD/JPY: Post-flash crash recovery capped below 75.00

  • Consolidating the recovery on 74 handle, as the bulls look for fresh impetus.
  • All eyes on the fear guar, AUD/JPY, for further risk trends ahead of the US macro data.

The AUD/JPY pair has entered a phase of downside consolidation on the 74 handle, after the recovery from the flash crash lows of 71.82 lost legs near the 74.80 region.

The risk-barometer, AUD/JPY, was the biggest mover across the fx board in the Asian trading this Thursday, as it fell to the lowest levels since January 2009, having breached the 2010 lows of 71.91.

The 400 pips sell-off in the cross was mainly triggered by a rare revenue warning issued by Apple Inc. amid Chinese economic slowdown concerns, which knocked-off the company’s stocks and sparked a fresh risk-aversion wave across the fx markets.

The safe-haven Yen was quick to react to the risk-off flows and jumped nearly 4 big figures, sending the Yen crosses sharply lower to multi-year troughs. Over the last hours, USD/JPY is seen consolidating the volatile move around the 107 handle, leaving the AUD/JPY recovery limited below the 75 level.

On the AUD-side of the equation, the AUD/USD pair is looking to stabilize near the midpoint of the 0.69 handle, helping keep the downside cushioned for now. However, the cross remains exposed to further downside risks and a test of nearly a decade lows at 71.82 remains likely, as the European traders could sell-off risk, catching up with the overnight flash crash moves.

AUD/JPY Technical Levels

AUD/JPY

Overview:
    Today Last Price: 74.39
    Today Daily change: -2.0e+2 pips
    Today Daily change %: -2.58%
    Today Daily Open: 76.36
Trends:
    Previous Daily SMA20: 79.55
    Previous Daily SMA50: 80.92
    Previous Daily SMA100: 80.77
    Previous Daily SMA200: 81.61
Levels:
    Previous Daily High: 77.55
    Previous Daily Low: 75.99
    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%: 76.59
    Previous Daily Fibonacci 61.8%: 76.96
    Previous Daily Pivot Point S1: 75.72
    Previous Daily Pivot Point S2: 75.07
    Previous Daily Pivot Point S3: 74.15
    Previous Daily Pivot Point R1: 77.28
    Previous Daily Pivot Point R2: 78.2
    Previous Daily Pivot Point R3: 78.85

 

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