AUD/JPY: reversing the risk-off dump of 40 pips post Japanese Earthquake

Currently, AUD/JPY is trading at 81.69, up 0.05% on the day, having posted a daily high at 81.75 and low at 81.43.

Japan earthquake: 60-cm tsunami reported, fire extinguished at factory in Iwaki

AUD/JPY has reversed the Japanese earthquake induced sell-off after finding traction around the 1hr 200 sma at 81.45. The cross is good indicator of risk in the market and tends to weaken in episodes of risk-off and risk aversion. The news of the earthquake lead to an immediate strengthening of the yen and the cross 40 pips, despite a stable Aussie. The greenback has been softer this week and has enabled the Aussie to gather a foundation abid from 0.7310 to 0.7380 so far. Dollar index drops back from highest level since April 2003 - UOB

AUD/JPY levels

Current price is 81.70, with resistance ahead at 81.71 (Hourly 100 SMA), 81.75 (Daily High), 81.82 (Daily Classic R1), 81.83 (Yesterday's High) and 82.28 (Daily Classic R2). Next support to the downside can be found at 81.66 (Daily Open), 81.59 (Hourly 20 EMA), 81.50 (Weekly Classic PP), 81.46 (Daily Classic PP) and 81.43 (Daily Low).