AUD/JPY September 23, 2019

AUD/JPY OANDA:AUDJPY

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The pair failed to breakout from a major resistance line, sending the pair lower toward its previous low. Australia is gaining favor from the United States after being the only country to stick with banning the Chinese telecom giant amid spying allegations. Favoring Australia also shows Trump’s reluctance to have a meeting with New Zealand Prime Minister Jacinda Ardern during the United Nations General Assembly. Japan, on the other hand, was still in a work-in-progress when it comes to its relationship with the United States. Japan and the European Union has been subject to President Trump’s trade war after China. Despite this, the relationship between Japan and Australia was seen improving despite differences on some issues including the return of Japan to whaling hunt, which Australia was not in favor. The two (2) countries head the pacific rim trade pact, the CPTPP.

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