The AUD/JPY cross attracts heavy selling at the start of a new week and dives to its lowest level since September 2024, around the 94.70-94.65 region during the Asian session.
AUD/JPY dives to a multi-month low in reaction to Trump’s new trade tariffs. Bets for a February RBA rate cut weigh on the Aussie and contribute to the fall. The bearish technical setup supports prospects for a further depreciating move. Spot prices, however, trim a part of intraday losses and currently trade near the 95.20 area, still down 1.20% for the day. US President Donald Trump imposed tariffs on imports from Canada, Mexico, and China, fueling concerns about a global trade war.
The latter should act as a key pivotal point, which if cleared could trigger a short-covering rally and lift the AUD/JPY cross beyond the 97.20 resistance, towards 97.55-97.60 horizontal resistance. AUD/JPY daily chart US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end.
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