Australian PMI data disappointed across the board, especially the Services PMI which plunged drastically. This dealt a fresh blow to the global economy which continues to perform worse than expected. While the US-China trade war is often cited as the cause for this, data suggests more fundamental weakness is the root cause. The AUDJPY remained stuck at resistance, how will price action develop from here? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Japanese PMI data followed in the footsteps of Australian data and came in weaker across the board with the second manufacturing PMI in contractionary territory. The Japanese Yen remained stable despite the economic disappointment. Asian data pointed towards clear weakness in the region, how will the AUDJPY trade moving forward? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this currency pair.