The aussie falls to session lows on the day
AUD/JPY is down by 0.6% now as price is hitting fresh lows since 10 January to start European morning trade. The pair broke below its 200-hour MA (blue line) in Asia Pacific trade and sellers have been building on that momentum since.
Minor support is now seen around 75.30 and the 75.00 handle but the key level to watch will be the 200-day moving average @ 74.75 as the negative risk mood reverberates.
European stocks are seeing heavy losses now with bond yields staying pressured as we get things going on the session.
Meanwhile, AUD/USD has moved to test its 100-day moving average @ 0.6844 and a drop/close below that will put sellers firmly in control of the pair - which may spell more weakness for the aussie in the near-term.
