AUD/JPY erases losses as RBA keeps rates unchanged


  • AUD/JPY recovers over 20 pips from session lows. 
  • The RBA keeps key policy tools unchanged, says rate hikes unlikely before 2024.

The Reserve Bank of Australia's (RBA) status quo rate decision has put a floor under the Aussie dollar, lifting the AUD/JPY pair to 82.85 from the session low of 82.62.

The central bank kept the benchmark interest rate unchanged at a record low of 0.10% soon before press time and retained the three-year bond yield target at 0.1%. 

Wage and price pressures are expected to remain subdued, with the economy still having considerable spare capacity, the central bank said, adding that rates are likely to stay low until 2024. 

The central bank said it is willing to adjust its bond purchase program while talking about the recent spike in bond yields and financial markets' resulting instability. According to the bank, the Aussie dollar is now trading near the upper end of its multi-year range. 

RBA's comments on the exchange rate may keep buyers from taking aggressive longs on the Australian currency. The currency pair may fall back to session lows if the S&P 500 futures extend losses. At press time, the futures are down 0.34% on the day. 

Technical levels

AUD/JPY

Overview
Today last price 82.85
Today Daily Change -0.10
Today Daily Change % -0.13
Today daily open 82.99
 
Trends
Daily SMA20 81.85
Daily SMA50 80.6
Daily SMA100 78.38
Daily SMA200 76.87
 
Levels
Previous Daily High 83.13
Previous Daily Low 82.12
Previous Weekly High 84.95
Previous Weekly Low 82
Previous Monthly High 84.95
Previous Monthly Low 79.54
Daily Fibonacci 38.2% 82.75
Daily Fibonacci 61.8% 82.51
Daily Pivot Point S1 82.36
Daily Pivot Point S2 81.73
Daily Pivot Point S3 81.35
Daily Pivot Point R1 83.38
Daily Pivot Point R2 83.76
Daily Pivot Point R3 84.39

 

 

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.

Feed news

Take advantage of market volatility with our daily Forex, Crypto and Indices Trade Ideas!

Become Premium!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD steady above 1.2000 as investors wait for the ECB

EUR/USD is unchanged around 1.2030 for a second consecutive day, as speculative interest holds back ahead of the European Central Bank decision.

EUR/USD News

GBP/USD trades above 1.39 as the dollar takes a breather

GBP/USD has bounced back above 1.39, recovering as the dollar cedes some ground. The greenback benefited from the risk-off mood, while the pound struggles after CPI missed with 0.7% and as UK PM Johnson warns of winter covid wave.

GBP/USD News

EUR/USD steady above 1.2000 as investors wait for the ECB

EUR/USD is unchanged around 1.2030 for a second consecutive day, as speculative interest holds back ahead of the European Central Bank decision.

EUR/USD News

Enjin Coin price shakes off selling pressure, primed for a 25% rally

Enjin Coin price outlook has shifted to neutral. It is on the verge of completing a high probability bottoming pattern, showing a positive divergence from some of the other cryptocurrencies that have printed new correction lows over the last couple of days. 

Read more

European Central Bank Preview: Five reasons for Lagarde to lift the euro

The German ZEW Economic Sentiment, the Sentix Investor Confidence and Markit's Purchasing Managers' Indexes have been rising and surprising to the upside in recent months. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures