4 Dec 2014
AUD/JPY awaits Australia's data
FXStreet (Guatemala) - AUD/JPY is trading at 100.66, down -0.02% on the day, having posted a daily high at 100.76 and low at 100.47.
AUD/JPY is well placed on the 100 handle after making a valiant come back despite the pressures surrounding the Australian dollar and has been trading on Yen's weakness. USD/JPY is up to test the bears at 120.00 where heavy supply may come in with a bout of offers and contracts being secured on a forward contract and options basis that could stunt a full on mascara in the bears layer should the pair surpass this psychological barrier. One outcome however that may appear are opportunities for fades in the cross on a run of buy stops triggered in the major on the 120 handle.
Meanwhile, the we await the Australian trade balance and retails sales coming up in the next 10 minutes which could decide the fate of the Aussie before this weeks showdown being the Nonfarm payrolls event at the end of the week.
That said, the ECB is due tomorrow and the relationship between the Aussie and euro is always one to watch, listening for signs of extra liquidity into the market that my benefit the Aussie in 2015 as investors search for yield, depending on the outcomes of Australia’s own problematic areas and requirement for ease of monetary policy conditions.
AUD/JPY is well placed on the 100 handle after making a valiant come back despite the pressures surrounding the Australian dollar and has been trading on Yen's weakness. USD/JPY is up to test the bears at 120.00 where heavy supply may come in with a bout of offers and contracts being secured on a forward contract and options basis that could stunt a full on mascara in the bears layer should the pair surpass this psychological barrier. One outcome however that may appear are opportunities for fades in the cross on a run of buy stops triggered in the major on the 120 handle.
Meanwhile, the we await the Australian trade balance and retails sales coming up in the next 10 minutes which could decide the fate of the Aussie before this weeks showdown being the Nonfarm payrolls event at the end of the week.
That said, the ECB is due tomorrow and the relationship between the Aussie and euro is always one to watch, listening for signs of extra liquidity into the market that my benefit the Aussie in 2015 as investors search for yield, depending on the outcomes of Australia’s own problematic areas and requirement for ease of monetary policy conditions.