Listen to the market mood for the AUDJPY currency pair in the coming session:
Expect the AUD to be weaker today on renewed concerns around the coronavirus outbreak. China reported 7,711 total coronavirus cases and a death toll of 170, and suspected cases are up to 12,126.
The JPY is strong today as the Nikkei is down -1.72% with Japanese medical experts confirming 3 Japanese nationals with coronavirus after returning from Wuhan yesterday.
Expect AUDJPY sellers on pullbacks. Expect the JPY and the CHF to be bought today and the AUD and NZD to be sold. Also, look for oil to be pressured alongside CAD.
Risks to this outlook
Any good news on the coronavirus outbreak that triggers a return to a risk-on market.