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JPY: Slips Amid Light Risk Aversion

AUD

AUD/JPY has shed 14 pips so far and trades at Y79.87 as Asia has started the week with a degree of risk aversion. E-minis have slipped in early trade and equity benchmarks in Japan, Australia and South Korea have followed suit. Participants are awaiting the release of China's Q4 GDP report & December economic activity data.

  • The rate sits at its worst levels since Jan 6 after taking a dip into the end of last week. Next support level of note is located at Y78.85, which represents the low print of Jan 4. On the topside, focus falls on Jan 14 high of Y80.86, followed by Jan 8 cycle high of Y80.93.
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