AUD/JPY slumps almost 1 big figure on poor Aus CPI
|AUD/JPY resumes its bearish momentum this Wednesday, after having witnessed a temporary relief rally a day before, as the bulls were hit by worse-than expected Australian inflation figures.
AUD/JPY back below 20-DMA at 85.69
The AUD/JPY pair slumps -0.71% to 85.65, flirting with session lows reached at 85.62 some minutes ago. The cross came under heavy selling pressure after the Australian dollar was battered across the board, following the release of softer Aus CPI report, which heightened expectations of a RBA rate cut going forward. Australia's Q4 CPI: All figures miss expectations
Addionally, a stronger yen versus the greenback amid risk-off markets and better Japanese trade data, also exacerbated the pain the AUD/JPY. Looking ahead, the cross will get influenced by the RO-RO trends, as markets absorb the Australian macro news.
Technical Levels
Higher side: 86.04 (5-DMA), 87.17 (Dec 16 high)
Lower side: 85.31 (50-DMA), 84.50 (psychological levels)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.