AUD - Strong Bearish
1️⃣ Beijing is stepping up measures to reduce steel production due to environmental problems.
2️⃣ Preliminary readings show retail sales in Australia are down 1.7%, after a 2.7% decline in the previous month.
JPY - Strong Bullish
1️⃣ Investors’ concerns about the uncertainty of the economic recovery could support the value of the JPY.
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Technical
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We are selling AUDJPY after it failed to break the resistance level.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
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