AUD/JPY hovers around hourly 200-MA

AUD/JPY is trading around the hourly 200-MA level of 81.28 after having failed near 10-DMA level of 81.47 levels.

Japanese trade data ignored

Japan’s exports fell for a 13th consecutive month, Ministry of Finance data showed on Monday. The imports dropped 16.5%, while the exports dropped 10.3%, thus leading to a surplus of JPY 496.2 billion ($4.47 billion), versus the median estimate for a JPY 615.4 billion surplus.

However, the data was ignored by the markets as the focus remains on the Trump trade. Moreover, the Dollar-Yen pair is on the retreat in Asia as the 70 degree slope of the rally suggests the ‘hope trade’ may have gone too far in a short period of time.

AUD/JPY Technical Levels

Breach of the recent low of 81.11 (hourly chart support) would open doors for 80.53 (4-hr 100-MA) and 80.00 (zero figure) levels. On the higher side, break above 81.55 (10-DMA) could yield a revisit to 81.82 (Nov 18 high) and 82.46 (Nov 10 high).