AUD/JPY reclaims 84.00 on broad market recovery

  • Aussie takes a ride higher as markets recover on trade talk cool-down.
  • Tuesday brings little action to the table with nothing slated for the data dockets.

The AUD/JPY pair is trading near 84.15 in the overnight session, after lifting steadily on Monday.

The Aussie was one of the big winners in the broad-market recovery for the new week, and the AUD gained 1.14% on Monday against the Yen.

A notable stand-down in the trade spat between the US and China has seen risk appetite surge back this week, dragging risk assets and commodities higher. The two countries have agreed, at least for now, to hold off on any further tariffs while they continue trade negotiations. Traders are largely heralding the move as a positive, and the safe-haven Yen is walking back across the board as traders scoop up riskier assets.

Tuesday is a quiet day for the economic calendar, and both the Aussie and the Yen are data-free until early Wednesday, with Japan’s Nikkei manufacturing PMI at 00:30 GMT, and Australian Construction Work Done at 01:30 GMT.

AUD/JPY levels to watch

s FXStreet’s own Ross Burland noted earlier, “the aforementioned 100-D SMA guards 84.35, 85.50 and the 200-D SMA at 85.65 opens 86.20. RSI heads towards 70, still with room to go supporting the bullish bias. To the downside, 83.32 guards 83 the figure before a breakdown to 82.40, (50-D SMA).”


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