22 Jan 2014
AUD/JPY soars after Australian inflation report
FXstreet.com (Córdoba) - The AUD/JPY jumped after the release of the Australian CPI report and climbed to test 92.45, where yesterdays highs lie. Before the inflation numbers the pair was trading at 91.73 and jumped 70 pips in a few minutes. The Aussie gained momentum across the board.
According to the Australian Bureau of Statistics the Consumer Price Index rose at a rate of 0.8% during the fourth quarter; surpassing analysts expectations for a 0.5%. The annual rate rose at 2.7%, above the 2.5% expected and the previous 2.2%.
AUD/JPY recovery gaining momentum
At the moment of writing, the pair was trading at 92.42, up 0.55% for the day; testing a strong short-term resistance around 92.45 that capped the upside on Tuesday. If it breaks above the Aussie would be trading at the strongest level since the release of the employment report last Thursday, extending the recovery from Monday's low (91.02).
According to the Australian Bureau of Statistics the Consumer Price Index rose at a rate of 0.8% during the fourth quarter; surpassing analysts expectations for a 0.5%. The annual rate rose at 2.7%, above the 2.5% expected and the previous 2.2%.
AUD/JPY recovery gaining momentum
At the moment of writing, the pair was trading at 92.42, up 0.55% for the day; testing a strong short-term resistance around 92.45 that capped the upside on Tuesday. If it breaks above the Aussie would be trading at the strongest level since the release of the employment report last Thursday, extending the recovery from Monday's low (91.02).