Fundamental Analysis of AUD/JPY for April 20, 2018
April 20, 2018 10:21 amVideo
Latest News
- Technical Analysis – WTI oil futures exit sideways move to the downside April 18, 2024
- Market Comment – US dollar on the back foot as nervousness lingers in equity markets April 18, 2024
- Hot forecast for EUR/USD on April 18, 2024 April 18, 2024
- EUR/USD and GBP/USD: Technical analysis on April 18 April 18, 2024
- Trading plan for GBP/USD on April 18. Simple tips for beginners April 18, 2024
- Trading plan for EUR/USD on April 18. Simple tips for beginners April 18, 2024
- The Fed and global instability: a double blow to American markets April 18, 2024
- Forecast for EUR/USD on April 18, 2024 April 18, 2024
- Forecast for GBP/USD on April 18, 2024 April 18, 2024
- Forecast for AUD/USD on April 18, 2024 April 18, 2024
- Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data April 18, 2024
- Outlook for EUR/USD on April 18. Euro has fallen into a new flat April 18, 2024
- GBP/USD. Correction or trend reversal? April 18, 2024
- The FOMC will not lower rates in 2024 April 18, 2024
- Powell made a bold point, and Bailey did not report anything important April 18, 2024
- Will the euro take a risk? April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
AUD/JPY recently gained bearish momentum in the middle of the price range of 82.00 to 84.50 from where the price is currently expected to have bearish pressure in the nearest days. Recently, AUD Employment Change report was published with an increase to 4.9k from the previous negative figure of -6.3k but it failed to meet the expectation of 20.3k and Unemployment Rate was also published unchanged at 5.5%. As AUD missed the expectation of a significant increase in Employment Change, this had a great impact on the gains of AUD against JPY, leading to impulsive bearish pressure with a daily close yesterday. Today, Japan’s National Core CPI report was published with a slight decrease to 0.9% as expected from the previous value of 1.0% and Tertiary Industry Activity also rose to 0.0% from the previous figure of -0.4% but failed to meet the expectation of 0.1%. Due to mixed readings, JPY was unable to provide much pressure over AUD today which lead to certain indecision in the pair currently. As for the current scenario, JPY is expected to sustain its bearish gains over AUD whereas certain correction and volatility may be observed along the way. Until AUD comes up with a better economic report to counter the bearish pressure, JPY is expected to have an upper hand over AUD in the coming days.
Now let us look at the technical view. The price is currently residing above the dynamic level of 20 EMA which is currently holding the price as support in the mid-range between 82.00 to 84.50 area. The impulsive bearish pressure had a greater impact on the recent price action where bears have engulfed the previous consolidation with a daily close yesterday. As the price remains below 84.50 with a daily close, further bearish pressure is expected.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: