AUD/JPY chart - Trading View
AUD/JPY was trading 1.50% lower on the day at 77.51 at around 10:25 GMT, further weakness on charts.
The pair was holding support at 21-EMA and breach below will drag the pair lower.
Global risk-off sentiment driving weakness in risk assets. AUD/JPY hit 7-day low. Further weakness to follow.
Concerns over the coronavirus contagion have intensified after a new covid strain was found in the UK.
UK faces supply chain issues amid travel bans imposed to stop the spread of the new covid strain.
PM Johnson convenes an emergency meeting of the Cobra cabinet to discuss the rapidly deteriorating situation.
Upside has stalled short of 200W MA, resumption of upside will test 200W MA at 79.15.
On the downside, 21-EMA is strong support at 77.55. Breach below will see test of 55-EMA at 76.61.
