Thursday, September 24, 2015

AUD/JPY drops to fresh lows, china-led risk aversion ahead?

FXStreet (Mumbai) - The AUD/JPY pair dropped to a fresh session low of 83.66 indicating a probability of China-led risk aversion in the markets.

Trades below 84.00

The pair remains below 84.00 levels and appears poised to end the day lower for the consecutive session. Moreover, the pair could be pointing to China-led risk aversion ahead as the Aussie; considered as a proxy for China, is dropping against the safe haven Japanese Yen.

Ahead in the day, the investors could continue to track the action in the AUD/JPY pair for indications regarding risk-on/risk-off sentiment in the markets.

AUD/JPY Technical Levels

The immediate support is seen at 83.33 (Sep 10 low), under which the pair could extend the drop to 82.12 (Sep 4 low). On the other side, resistance is seen at 84.47 (daily high) and 85.00 levels.
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