10 Feb 2015
AUD/JPY: Trading within a range, awaiting impetus
FXStreet (Guatemala) - AUD/JPY is currently trading at 92.82 with a high of 92.97 and a low of 92.24.
AUD/JPY is finding near term resistance at 92.80 and is supported at 92.20 post the rally from 89.40 territory a week ago. Yen is on the back foot on the strength of the greenback while the Aussie is running into supply on the back of a dovish sounding outlook ahead from the RBA and opportunities faded towards the top of the seven day channel through 0.7850.
We have already traded off the back of the Chinese inflation disappointments yesterday that has sentiment turning towards further easing from the PBoC. This could add liquidity into the Australian economy as investors seek out the yield, supporting the Aussie. Meanwhile, we continue on data starting later today with home loans and then tomorrow we get set for RBA's Assist Gov Debelle's speech, Consumer inflation expectations, employment change and the unemployment rate. We also need to keep a watchful eye on events over in the EZ with the Greece situation escalating into speculation of a Grexit that should keep the Yen supported on risk aversion.
AUD/JPY is finding near term resistance at 92.80 and is supported at 92.20 post the rally from 89.40 territory a week ago. Yen is on the back foot on the strength of the greenback while the Aussie is running into supply on the back of a dovish sounding outlook ahead from the RBA and opportunities faded towards the top of the seven day channel through 0.7850.
We have already traded off the back of the Chinese inflation disappointments yesterday that has sentiment turning towards further easing from the PBoC. This could add liquidity into the Australian economy as investors seek out the yield, supporting the Aussie. Meanwhile, we continue on data starting later today with home loans and then tomorrow we get set for RBA's Assist Gov Debelle's speech, Consumer inflation expectations, employment change and the unemployment rate. We also need to keep a watchful eye on events over in the EZ with the Greece situation escalating into speculation of a Grexit that should keep the Yen supported on risk aversion.