5 Aug 2015
AUD/JPY: consolidates the upside in bearish trend
FXStreet (Guatemala) - AUD/JPY is currently trading at 91.64 with a high of 91.82 and a low of 91.62.
AUD/JPY has been in consolidation of the upside from yesterday's rally from 90.40 territory when the RBA statement tweaked the wording around the price of the Aussie, now explaining that the price is adjusting to the significant declines in key commodity prices rather than suggesting the Aussie has further to fall.
The Yen is however relatively robust, despite dollar strength while recent comments from the BoJ's Kuroda suggested that inflation will pick up quickly in the latter half of this fiscal year and that the Central Bank sees no further monetary stimulus as required.
The BoJ this week will likely stay on hold and maintain an upbeat assessment of the economy. Before the BoJ at the end of the week, we have the Aussie jobs data and unemployment rate which will be a key focus. Then of course we have the Nonfarm Payrolls for the end of the week with a consensus coming in a range around 210k.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
Technically, the upside is limited here by the middle of July's downtrend's resistance at 92.25 and 91.80. A break of 90.80 opens the 90.00 level that guards 89.15/40.
AUD/JPY has been in consolidation of the upside from yesterday's rally from 90.40 territory when the RBA statement tweaked the wording around the price of the Aussie, now explaining that the price is adjusting to the significant declines in key commodity prices rather than suggesting the Aussie has further to fall.
The Yen is however relatively robust, despite dollar strength while recent comments from the BoJ's Kuroda suggested that inflation will pick up quickly in the latter half of this fiscal year and that the Central Bank sees no further monetary stimulus as required.
The BoJ this week will likely stay on hold and maintain an upbeat assessment of the economy. Before the BoJ at the end of the week, we have the Aussie jobs data and unemployment rate which will be a key focus. Then of course we have the Nonfarm Payrolls for the end of the week with a consensus coming in a range around 210k.
Register to the live coverage and trade the NonFarm Payrolls with Bednarik, Pinkert and Elam. We are Forex!
Technically, the upside is limited here by the middle of July's downtrend's resistance at 92.25 and 91.80. A break of 90.80 opens the 90.00 level that guards 89.15/40.