AUD/JPY extends decline as risk-off mood gains traction on US yield curve inversion

Technical Analysis

Author: Justin Low | aud

AUD/JPY is the big mover in the major currencies space again today

AUD/JPY H1 14-08
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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.

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