Fundamental Analysis of AUD/JPY for March 30, 2018
March 30, 2018 7:22 am
AUD/JPY has been non-volatile with the bearish gains recently which lead the price to bounce off from 89.00 area to below the 81.50 price area. AUD has been quite positive with the economic reports this week which did help the currency to gain certain momentum over JPY but could not dominate as JPY was quite strong as well with the economic reports and market sentiment. Recently, AUD HIA New Home Sales report was published with less deficit to -0.7% from the previous value of -2.1% and Private Sector Credit increased to 0.4% from the previous value of 0.2%. On the other hand, JPY has been quite positive with the Retails Sales report which published recently with an increase to 1.6% from the previous value of 1.5% which did not meet the expectation of 1.7% but did show some progress. Today, as of observation of Good Friday, both JPY and AUD is expected to be quite slower and corrective in nature. As of the current scenario, having Easter Monday ahead, the JPY and AUD market is expected to be quite low on liquidity resulting to no definite trend in the market for the coming days but as of recent impulsiveness and 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 at the edge of the 81.50-80 price area from where it is expected to continue further towards the 80.00 price area in the coming days. As the bearish non-volatile trend in place, the probability of progressing much lower despite having holidays in the coming days is quite high. As the price remains below the 84.50 price area, the bearish bias is expected to continue.
The material has been provided by InstaForex Company – www.instaforex.com
AUD/JPY has been non-volatile with the bearish gains recently which lead the price to bounce off from 89.00 area to below the 81.50 price area. AUD has been quite positive with the economic reports this week which did help the currency to gain certain momentum over JPY but could not dominate as JPY was quite strong as well with the economic reports and market sentiment. Recently, AUD HIA New Home Sales report was published with less deficit to -0.7% from the previous value of -2.1% and Private Sector Credit increased to 0.4% from the previous value of 0.2%. On the other hand, JPY has been quite positive with the Retails Sales report which published recently with an increase to 1.6% from the previous value of 1.5% which did not meet the expectation of 1.7% but did show some progress. Today, as of observation of Good Friday, both JPY and AUD is expected to be quite slower and corrective in nature. As of the current scenario, having Easter Monday ahead, the JPY and AUD market is expected to be quite low on liquidity resulting to no definite trend in the market for the coming days but as of recent impulsiveness and 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 at the edge of the 81.50-80 price area from where it is expected to continue further towards the 80.00 price area in the coming days. As the bearish non-volatile trend in place, the probability of progressing much lower despite having holidays in the coming days is quite high. As the price remains below the 84.50 price area, the bearish bias is expected to continue.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: