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AUD/JPY: Fresh YTD Low On Friday


AUD/JPY printed its lowest level of 2023 on Friday. Risk off flows sparked by concerns over Deutsche Bank, saw the Yen and the USD firm weighing on the pair.

  • The pair printed a low at ¥86.06, before firming ~1% as US equities pared losses boosting risk appetite. We now sit at ¥86.75/85 marginally lower than Friday's closing levels.
  • Bears look to target ¥85.00, a break through here opens the bottom of the bear channel at ¥83.72.
  • Bulls first look to break the 20-Day EMA at ¥88.98 to turn the tide.
  • The next risk events for the pair are presented by Australian Feb Retail Sales (exp: 0.2%, prior: 1.9%), which is due tomorrow. On Wednesday we have Australia's Feb CPI, the print is expected at 7.2% down from the prior read of 7.4%.

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