AUD/JPY extends decline as risk-off mood gains traction on US yield curve inversion
AUD/JPY is the big mover in the major currencies space again today
But this time it is on the receiving end of a beating as price is down by 1.2% and is threatening to break below key near-term levels. Of note, price is falling below the 100 and 200-hour moving averages (red and blue lines respectively).
As such, this would put sellers back in control and threaten a move towards 71.00 and last week's low of 70.75 once again. At this point, sellers may start looking towards revisiting the January flash crash low over the next few sessions.
Can Trump come and save the day again later on?