29 Jan 2015
AUD/JPY breaks come on as entering highly bearish territory
FXStreet (Guatemala) - AUD/JPY is currently trading at 92.80 with a low of 92.57 and a high of 92.92.
AUD/JPY is consolidating the downside of the bearish from 93.60's. The cross was taken down through 93.20 with ease and we are now in highly bearish territory. The RBA is looming and markets are very cautious not too be long currently of the Aussie given the disinflationary backdrop globally with Central Banks cutting back their forecast of expectations of growth, inflation target timings, rates and in respect of the RBA too, markets are preparing for rate cuts.
The BoJ has been quietly plotting ahead with their own QQE in the background of new dovishness occurring from the else where, such as the rBNZ today pressuring the Aussie lower as well, but at this point, the Yen is relatively strong and performance are better of late. Yen vs the dollar is offered currently and is testing the patience of the committed bulls who are becoming frustrated with the lack of follow through of demand, stuck in a range ahead of the Tokyo open today.
AUD/JPY is consolidating the downside of the bearish from 93.60's. The cross was taken down through 93.20 with ease and we are now in highly bearish territory. The RBA is looming and markets are very cautious not too be long currently of the Aussie given the disinflationary backdrop globally with Central Banks cutting back their forecast of expectations of growth, inflation target timings, rates and in respect of the RBA too, markets are preparing for rate cuts.
The BoJ has been quietly plotting ahead with their own QQE in the background of new dovishness occurring from the else where, such as the rBNZ today pressuring the Aussie lower as well, but at this point, the Yen is relatively strong and performance are better of late. Yen vs the dollar is offered currently and is testing the patience of the committed bulls who are becoming frustrated with the lack of follow through of demand, stuck in a range ahead of the Tokyo open today.