The Japanese Yen is seen as a beneficiary of safe haven flows today, while the Antipodeans are struggling to make a comeback.
- Soft Caixin China Manufacturing PMI reigniting fears of a slowdown in China, dents risk appetite.
- AUD/JPY has broken below channel base support at 86.70 and is currently trading at 86.60, is down around 1.5 % on the session.
- Daily Stochs and RSI are biased lower, channel base breach opens to 85.31 68.1% Fib retrace of 81.97 to 90.72 rise.
- Immediate support is seen at 86.0 (Oct 14 lows), while resistance on the upside is located at 86.86 (Sept 18 high).
Recommendation: Good to sell rallies around 86.70 levels, SL: 87.55, TP: 85.40
