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  • The AUD/JPY is bouncing off of the 80.00 major handle after marking in a 30-month low at 79.70.
  • Risk appetite is cautiously improving for Friday’s action as US-China negotiations on trade are set to resume again after months of deadlock.
  • The Aussie is down nearly 10% against the Japenese Yen for 2018.

AUD/JPY Chart, 1-Hour

Spot rate:   80.56
Relative change:   0.11%
High:   80.71
Low:   80.35
   
Trend: Bearish
   
Support 1:   80.35 (current day low)
Support 2: 79.69 (current week low; major technical bottom)
Support 3: 79.00 (major technical level)
   
Resistance 1: 80.82 (current week low)
Resistance 2: 81.60 (61.8% Fibo retracement level)
Resistance 3: 82.79 (previous week low)