FxWirePro: AUD/JPY Daily Outlook

Chart - Courtesy Trading View 

AUD/JPY was trading 0.18 lower on the day at 94.75 at around 09:55 GMT.

The pair has snapped at 2-day upside as price action remains capped at daily cloud.

Mixed signals from Aussie data and souring risk-barometer status weigh on the pair. 

National Australia Bank’s (NAB) Business Conditions slipped to 22 in October from 25 prior, above 20 forecast. 

The NAB Business Confidence slumped to 0 during the said month compared to the market’s consensus of reprinting 5 figure.

Further, Australia’s Westpac Consumer Confidence slumped to -6.9% in November versus -0.9% prior. 

Adding to the dismal data, the weekly print of ANZ-Roy Morgan Consumer Confidence dropped to 78.7, the lowest levels since April 2020.

Elsewhere, China reported the biggest jump in the fresh daily coronavirus numbers since April, denting the risky assets.

Comments from Reserve Bank of Australia (RBA) Governor Philip Lowe will be crucial for further direction.

Technical analysis does not determine a clear directional bias. Decisive break above daily cloud will see more gains. Major weakness only below 200-DMA.