Cross-rates signals: AUD / JPY is in uncertainty

The Australian dollar, which is heavily exposed to risks associated with China, appeared under pressure of risks because of the growing trade confrontation between the US and China.

Technically, the pair AUD / JPY remains uncertain due to the formation of a “double bottom”, which may cause a return of the cross in the three-month uptrend. On the other hand, a “double top” is formed on the daily timeframe. The uncertainty zone is located in the range from 80.80-50 to 81.50-80. The exit of the pair in one of the sides will indicate further movement in that direction. Risks around the trade confrontation add an additional uncertainty.

Read also: “The US Trade War 2.0. New facts »

Hanzenko Anton