AUD/JPY struggles to justify a hike in trade balance as import/export slid. The US escalates efforts to counter coronavirus, California declares the emergency. Japan is yet to announce any response to the COVID-19 despite likely major negative impact. With the Aussie trade balance crossing lines with import/export details, AUD/JPY seesaws around 71.20, 0.0% change from the previous day, during the Asian session on Thursday. Read: Australia Jan balance goods/svcs a$+5,210 mln, s/adj (reuters poll: a$+4,800 mln) The reason for the pair’s less reaction to the data could be traced from the market’s risk-reset. While leading the global fight against the deadly virus, the US announced roughly $8 billion emergency spending bill as well as announced alternations to bank capital reserve requirements. In addition to the diplomats’ efforts to tame the negative economic impact of COVID-19, the US Fed member James Bullard’s latest comments turning down call of any further rate cuts this month also favored the risk-tone. However, a state of emergency in California and downbeat concerns raised by the Australian and South Korean policymakers seem to keep the risk-tone under pressure. That said, the trading sentiment remains mildly positive with the US 10-year treasury yields extending Wednesday’s recovery to 1.028% whereas Japan’s NIKKEI rises 1.0% during the early Tokyo trading. Amid the lack of major data/events on the economic calendar, investors will keep eyes on the coronavirus headlines for near-term direction. Technical Analysis A confluence of October 2019 low and 10-day EMA around 71.70/75 and a downward sloping trend line since November 2019, at 72.05, act as the key upside barriers for the pair. On the contrary, 70.30 and 70.00 could entertain short-term sellers. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD: Above-forecast Aussie trade surplus struggles to power gains in the Aussie FX Street 3 years AUD/JPY struggles to justify a hike in trade balance as import/export slid. The US escalates efforts to counter coronavirus, California declares the emergency. Japan is yet to announce any response to the COVID-19 despite likely major negative impact. With the Aussie trade balance crossing lines with import/export details, AUD/JPY seesaws around 71.20, 0.0% change from the previous day, during the Asian session on Thursday. Read: Australia Jan balance goods/svcs a$+5,210 mln, s/adj (reuters poll: a$+4,800 mln) The reason for the pair’s less reaction to the data could be traced from the market’s risk-reset. While leading the global fight against the deadly… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.