AUD/JPY hanging just above 82.00 as bulls slump

• The Aussie is treading bearishly ahead of Australian Retail Sales.
• Disappointing trade figures for the AUD has seen the AUD/JPY fall back into recent lows.

The AUD/JPY is trading just above the 82.00 technical barrier ahead of Australian Retail Sales figures.

The Aussie touched into a two-week high against the Japanese  Yen this week, clipping into 83.25 before bearish overtones drove the pair back down into the week’s lows near the 82.00 level, and the AUD heads into Friday’s trading action on weaker footing as broader market concerns over trade keep the safe-haven Yen buoyed against riskier assets like the Aussie.

Australia’s Retail Sales figures, due early Friday at 01:30 GMT, are expected to clock in at just 0.3%, a step down from the previous reading of 0.4%, and market confidence in Aussie trade figures continues to slump. The Australian Trade Balance on Thursday jumped much higher than expected, but the underlying import/export figures showed an incredibly off-kilter balance of trade for Australia, with an unexpected contraction in headline Imports driving the Trade Balance numbers higher than forecast. Exports also slowed over the previous period, and ongoing trade tensions between the US and China are beginning to impact related markets with Australia seeing wonky figures with their closest trading partner.

AUD/JPY Levels to watch

With the pair back into recent lows, swing low barriers are spread between 81.95 and 81.80, while upside potential is being limited by a month-long resistance zone between 82.85 and 83.60.