AUD/JPY finds itself knocking on 84.00 after Monday bullish gap

• Risk-on market open sees the AUD surging against the JPY.
• A data-thin Monday greets the Aussie-Yen pairing, leaving bulls to take the table for the day’s early action.

AUD/JPY finds itself kicking off the new week atop a bullish gap, opening up Monday’s market near the 83.90 region, hitting nearly a 90-pip gap on the week’s opening candles, THe pair remains near the 83.70 zone as Monday’s early trading session carries on, but sellers will be looking to get the bullish gap closed in the hours to come.

This weekend’s G20 Leaders’ Summit ended with relative success, and the Trump-Xi sideline meeting saw both the US and China vowing to hold off on any further tariffs or tariff rate hikes for an extended 90 days, helping to draw risk appetite back out of the market’s back pocket, sending risk-based assets like the Aussie up the charts for the new week.  

The economic calendar brings Australian Building Permits for November at 00:30 GMT (forecast 3.0%, previous 3,3%) with China’s Caixin Manufacturing PMI forecast to slip to the totally-flat reading of 50.0%, versus the previous 50.1%, which is slated to come in sometime around 01:45 GMT.

AUD/JPY Technical Levels