21 Jan 2014
AUD/JPY battling for territory
FXstreet.com (Guatemala) - AUD/JPY has made a come back and is attempting the 92 handle again.
Despite Australia’s weak employment print (-22.6k vs +7.5k consensus) that made for the worst annual jobs growth the nation has seen for 17 years underpinning the Australian dollar of late, the pair is trading on the bid into the week and ahead of the awaited CPI data from Australia tonight and the BoJ decision. No change there is expected, however, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank said, “We expect that as the increased sales tax is implemented the BOJ will turn increasingly dovish in order to reach its 2% inflation goal”.
AUD/JPY Levels
RSI (14) reads 57.74 while the EMA’s are offering a bullish bias ahead of SMA 100 92.7 that brings strong resistance into play. 0.9190 is next key resistance ahead of 0.9215 and 0.9240.
Despite Australia’s weak employment print (-22.6k vs +7.5k consensus) that made for the worst annual jobs growth the nation has seen for 17 years underpinning the Australian dollar of late, the pair is trading on the bid into the week and ahead of the awaited CPI data from Australia tonight and the BoJ decision. No change there is expected, however, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank said, “We expect that as the increased sales tax is implemented the BOJ will turn increasingly dovish in order to reach its 2% inflation goal”.
AUD/JPY Levels
RSI (14) reads 57.74 while the EMA’s are offering a bullish bias ahead of SMA 100 92.7 that brings strong resistance into play. 0.9190 is next key resistance ahead of 0.9215 and 0.9240.