The AUD/JPY cross attracts some dip-buying near the 93.45 region on Friday and reverses a part of the previous day's retracement slide from over a one
-week high. Spot prices, however, struggle to capitalize on the move and remain below the 94.00 round-figure mark through the Asian session, warranting some caution for bullish traders.
The Japanese Yen weakens a bit in reaction to data, showing that consumer inflation in Tokyo – Japan’s capital city – grew at a slower-than-expected pace in August, which reaffirms expectations that the Bank of Japan will stick to its dovish stance. This, in turn, provides a modest intraday lift to the AUD/JPY cross, though worries about a deeper global economic downturn keep a lid on further appreciating move for the growth-sensitive Australian Dollar .
From a technical perspective, spot prices have been oscillating in a familiar range since the early part of the current week. This, in turn, points to an indecision among traders over the next leg of a directional move. Meanwhile, the lack of any meaningful buying and the AUD/JPY pair's inability to capitalize on its recent bounce from the 100-day Simple Moving Average suggests that the recent downtrend witnessed over the past two months or so is still far from being over.
On the flip side, any positive move might continue to attract fresh sellers above the 94.00 level and is likely to remain capped near the monthly peak, just ahead of the 95.00 psychological mark. A sustained strength beyond the latter will shift the near-term bias in favour of bullish traders and lift the AUD/JPY cross further beyond the 95.30 intermediate resistance en route to the 95.80-95.85 supply zone and the 96.00 round figure for the first time since early July.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
AUD/JPY Price Analysis: Holds above 93.70 following Australian/Japanese PMI dataThe AUD/JPY cross gains traction above mid-93.00s during the Asian trading hours on Wednesday. The Japanese Yen remains under pressure amid the diverg
Weiterlesen »
AUD/JPY Price Analysis: Loses momentum below the 94.00 area, within a descending trend channelThe AUD/JPY cross loses momentum near 94.00 heading into the early European trading hours on Thursday. The cautious mood in the market and the downbea
Weiterlesen »
USD/CHF Price Analysis: Stays pressured near 0.8800 within immediate triangle, US PMI eyedUSD/CHF languishes around 0.8800 as it fades the previous day’s rebound from the 100-SMA heading into Wednesday’s European session. In doing so, the S
Weiterlesen »
USD/INR Price Analysis: Finds acceptance below 23.6% Fibo., downside seems limitedThe USD/INR pair struggles to capitalize on the previous day's late rebound from over a one-week low and trades with a negative bias for the third suc
Weiterlesen »
GBP/USD Price Analysis: Trades above 23.6% Fibo at 1.2740, caution ahead of UK PMIsGBP/USD trades higher around 23.6% Fibonacci retracement at 1.2740 at the time of writing during the Asian session on Wednesday. The pair gets support
Weiterlesen »
EUR/JPY Price Analysis: Stays defensive around 158.00 with rising wedge, Eurozone PMI in the spotlightEUR/JPY bears flirt with the short-term key support around 158.10 amid the initial hours of Wednesday’s European session as markets await the first re
Weiterlesen »