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AUD/JPY bumping on trade hopes

  • Aussie getting some support from US tariff rumours which were almost instantly deflated.
  • With nothing else to go on, markets are choosing to keep bidding on tariff headlines.

AUD/JPY is trading into 78.75 after spending most of the week trading flatly just above 78.00, bolstered by rumours that the US would be seeking to ease some tariffs on China.

The US was quick to release a statement walking back the rumour-driven headlines, but Pacific-sector investors are opting to continue bidding the positive news, as it is the only positive development surrounding US-China trade difficulties in what seems like months.

With the Aussie remaining fully at the mercy of China data and trade, market sentiment is relying solely on rumours and hope to keep markets pointed higher to cap off the week.

AUD/JPY Technical Levels

AUD/JPY

Overview:
    Today Last Price: 78.72
    Today Daily change: 9 pips
    Today Daily change %: 0.127%
    Today Daily Open: 78.62
Trends:
    Daily SMA20: 77.67
    Daily SMA50: 80.2
    Daily SMA100: 80.39
    Daily SMA200: 81.36
Levels:
    Previous Daily High: 78.98
    Previous Daily Low: 77.76
    Previous Weekly High: 78.36
    Previous Weekly Low: 77.02
    Previous Monthly High: 84.05
    Previous Monthly Low: 77.15
    Daily Fibonacci 38.2%: 78.51
    Daily Fibonacci 61.8%: 78.23
    Daily Pivot Point S1: 77.92
    Daily Pivot Point S2: 77.23
    Daily Pivot Point S3: 76.7
    Daily Pivot Point R1: 79.14
    Daily Pivot Point R2: 79.67
    Daily Pivot Point R3: 80.36

 

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