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  |   Technicals


FxWirePro: AUD/JPY Daily Outlook

Chart - Courtesy Trading View 

AUD/JPY was trading 1.16% lower on the day at 93.25 at around 07:30 GMT

The pair is extending downside for the second straight session, slips below 21-EMA.

The Australian dollar largely ignores upbeat Purchase Managers Index (PMI) data reported by the IHS Markit. 

Australia Services PMI printed at 52.6, significantly higher than the expectations of 49.1 but lower than the former figure of 53.2. 

The Manufacturing PMI stood at 55.8, higher than the consensus and the prior print of 54.7 and 55.7 respectively.

Japan Services PMI came at 54.2, significantly higher than the estimates and the prior print of 52.2 and 52.6 respectively. 

While, Manufacturing PMI however, slipped to 52.7 from the consensus of 54.4 and the former figure of 53.3.

Souring sentiment amid rising concerns about the risks of a global recession amid aggressive central bank rate hikes, keeping antipodeans depressed.

AUD/JPY on track for further downside, scope for test of 23.6% Fib retracement at 92.39. 

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