AUD/JPY sinks 4% to 78.20 amid Trump-led risk-off

Risk sentiment remains under heavy pressure, so does AUD/JPY, a so-called risk-gauge, as markets continue to fear a Trump presidency, despite latest update showing Clinton taking the lead in Virginia – key swing state, although by a small margin. Clinton is currently leading in Virginia: 47.5% vs. 47.3% with 82% votes in. 

All eyes remain on the electoral counts in New Mexico, Michigan (Trump leads by 6p with 22% votes counted) and Nevada. If Clinton loses in both Nevada and New Mexico, then its virtually all over Clinton.

The cross is last seen exchanging hands just ahead of 78 handle, down -4.15% on the day, at fresh four-week lows.

Technical Levels

Higher side: 82 (zero figure), 82.66 (daily R2)

Lower side: 78 (round number), 77.69 (multi-week lows)