AUDJPY selling this morning has pushed the AUDUSD back under 86c on the back of a weaker Nikkei and China/US trade tension. There is talk about moves by the US to slap extra import duties on imports of Chinese tyres. AUDUSD stops under 86c have been triggered. Next support level 8550.
The strong JPY is a threat to the build up of long AUDJPY positions. Technical support at 77.90(Friday low and the top of the Ichimoku cloud) has been penetrated. Next support at 77.50 then the 100 day MA at 76.63.
On the day Im a seller on rallies towards 8625.
