AUD/JPY slumps almost 100-pips, risk-off at full steam

The offered tone behind the AUD/JPY keeps growing bigger as we move towards the mid-European trades, knocking-off the rate to fresh three-week lows near the mid-point of 76 handle.

AUD/JPY faces double whammy

The AUD/JPY pair slumps -1.11% to fresh three-week lows of 76.56, extending sell-off into a second-day today. The AUD/JPY cross slump almost 1 big figure as the bears remain relentless amid prevalent risk-off moods, which continue to pose double whammy for the spot.

The AUD/USD pair remains in a sea of red amid rising yields, which diminishes the appeal for emerging market currencies such as the AUD. While the yen remains strongly bid across the board amid widespread risk-aversion, triggered by uncertainty over Fed rate hike prospects.  

In the week ahead, the Aus jobs report, US retail sales data and Fed speaks will emerge main market moving events for the Aussie.

AUD/JPY Technical Levels

To the upside, the next resistance is located at 77 (round figure) and above which it could extend gains to at 77.55 (5-DMA).To the downside immediate support might be located 76.06 (multi-week lows) below that at 75.50 (psychological levels).