AUD/JPY slow and steady at 83.00, waiting for a break into new one-month highs

• Thin trading greets the Aussie-Yen pair as traders go cautious for Friday.
• Trepidation ahead of the Trump-Xi G20 meet see investors on the nervous side.

AUD/JPY is cycling around the 83.00 major technical level after getting pinned to the ceiling in a broad-market risk recovery late Wednesday, and major currencies have locked up in early Friday action ahead of the upcoming G20 political summit, where the key focus will be the upcoming Trump-Xi sideline meeting.

Friday’s Aussie data showing was thin, with Private Sector Credit coming in rock-steady with the previous reading (4.6% y/y, 0.4% m/m), and Pacific-Asia markets are awaiting headlines from the upcoming G20 summit, where US President Trump and China’s Xi Jinping are expected to have a sideline meeting where the topic of focus will be trade. Investors are cautious heading into the weekend event, with investors hoping for a successful talk between the two leaders, while also fearing a ramp-up in trade war rhetoric, with the broad Asian marketspace widely exposed to fallout from a protracted Sino-US trade war.

AUD/JPY Technical Levels