AUD/JPY keeps sliding, European index futures drop

The global risk barometer AUD/JPY continues to slide, now flirting with the psychological support of 79.00.

The major European index futures have followed suit. Germany’s DAX futures and UK’s FTSE 100 futures are down 0.5% and 0.3% respectively.

Meanwhile, it is a sea of red in Asia as major indices feel the heat of the Trump’s one point lead over Clinton in the latest pre election polls.

As of now, the AUD/JPY cross is now down more than 150 pips from the yesterday’s high of 80.64.

AUD/JPY Technical Levels

In terms of the technical patterns, the pair formed a Doji candle with a large upper shadow yesterday. Today’s sell-off marks a bearish follow through after the Doji candle. Acceptance below 79.00 (zero figure) would open doors for 78.72 (Oct 21 low), under which a major support is seen directly at 78.00. On the higher side, breach of 79.17 (Oct 31 low) could yield a revisit to 79.69 (session high) and 80.00 (zero figure).