Forex: AUD/JPY pressured, Asian stocks weigh

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FXstreet.com (San Francisco) - AUD/JPY is tumbling to new weekly lows this Thursday in Asia, having broken below the 38.2% Fibonacci support zone at 81.76 and the 200-hr EMA ( at 81.84) to as low as 81.65, now recording a 0.4% session loss.

The bear tone comes as sentiment takes a hit in Asia, with regional bourses trading at session lows -
Shanghai Composite is extending its losses following an as-expected Chinese flash PMI release. Japan 225 is quoted down 83.71 points, or 0.9% at 9148.50. S&P/ASX 200 is down 20.56 points, or 0.5% at 4397.80. Hang Sen 40 has dropped 82.91 points, or 0.4% to 20763.00.

At the time of writing, AUD/JPY has ticked lower, triggering light bids through 81.62 and last trades in the 81.70 price zone. An extension lower could open scope for a test of support at 81.35 (50% Fibo, 79.65/83.06 advance), then at 81.15 (intraday). If bulls regain the upside, immediate resistance is noted at the mentioned 200-hr EMA. Above there, resistance is noted at 81.93 (intraday) and 82.09 (100-hr EMA).



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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