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AUD/JPY – Risk barometer rejected at trend line

OANDA:AUDJPY   Australian Dollar / Japanese Yen
AUD/JPY             is largely tracked as a risk barometer, especially in Asia given that key risk area is China and Aussie is a proxy to China.

The risk barometer has been rejected at the 1.5 year long descending trend line seen on the weekly chart. It is too early to call a top. A negative candle for next week would be the bearish confirmation. Nevertheless, investors need to watch out for trend line resistance next week. On the downside, key level is 77.82 (Feb low).
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