AUD/JPY risk off targets more downside in Tokyo, eyes on test of big support level

Currently, AUD/JPY is trading at 84.04, down -0.35% on the day, having posted a daily high at 84.43 and low at 84.01.

AUD/JPY has hit the skids, dropping below the 84.20 support area in Tokyo has risk off market sentiment continues to dominate the picture. Investors are seeking safer havens while the Trump trade continues to get knocked. Wall Street was a blood bath as were European bourses sparking a flight to bonds and taking the US 10 year yield down -6.2 bp subsequently. 

• USDJPY: Markets look set to remain nervous and choppy
• When is the RBA rate decision and how could affect AUD/USD?
• For the day ahead, the RBA and Aussie trade balance are the next catalysts while Bank of Japan's chief, Kuroda, is due in the Japanese parliament currently. 

AUD/JPY levels

AUD/JPY's break to the downside now opens 83.90 recent lows of 27th March and 83.81 low of 28th March. The 200-d EMA is located at 83.84 and it is also a trend sline support area from 8th Nov lows at 76.77. A break of this tight support area reveals 82.50/60. To the upside, the 2017 highs are 87.96/00 double top area should the 20-d sma be broken at 85.58 and 30th March highs.