AUD/JPY faces some selling pressure near 99.00 following Japanese CPI data

AUD/JPY attracts some sellers to 98.90 in Friday’s early European session.
Japan’s CPI inflation data rose to 2.8% YoY in February from 2.2% in January, which remains above the BoJ’s target.
Australia added 116.5K new employees in February, up from 15.3K in January.

Lallalit Srijandorn FXStreet

The AUD/JPY cross faces some selling pressure around the 99.00 mark during the early European session on Friday. The uptick in Japanese Consumer Price Index (CPI) inflation data provides some support to the Japanese Yen (JPY) and weighs on the AUD/JPY. Investors will take more cues from the Australian monthly CPI next week. AUD/JPY currently trades near 98.98, down 0.63%.

The recent data from the Japan Statistics Bureau on Friday revealed that the nation’s CPI inflation data for February climbed to 2.8% YoY from 2.2% in January. This figure remains well above the Bank of Japan’s (BoJ) 2% target, boosting the JPY against the Australian Dollar on Friday. Furthermore, the Core CPI, which excludes volatile fresh food prices, rose to 2.8% in February from 2.0% in the previous month, in line with market expectations.

On the Aussie front, the Australian Bureau of Statistics reported on Thursday that Australia added 116.5K new employees in February from 15.3K in the previous month. Meanwhile, the Unemployment Rate fell to 3.7% in February from 4.1% in January, stronger than the market expectation of 4.0%.

Next week, the market players will monitor the Australian monthly CPI and Retail Sales for February. On the Japanese docket, Tokyo CPI for March will be a closely watched event. Traders will take cues from these events and find trading opportunities around the AUD/JPY cross.

AUD/JPY

Overview
Today last price	98.95
Today Daily Change	-0.67
Today Daily Change %	-0.67
Today daily open	99.62

Trends
Daily SMA20	98.09
Daily SMA50	97.63
Daily SMA100	97.25
Daily SMA200	96.08

Levels
Previous Daily High	100.17
Previous Daily Low	99.29
Previous Weekly High	97.97
Previous Weekly Low	96.9
Previous Monthly High	99.06
Previous Monthly Low	95.5
Daily Fibonacci 38.2%	99.63
Daily Fibonacci 61.8%	99.83
Daily Pivot Point S1	99.21
Daily Pivot Point S2	98.81
Daily Pivot Point S3	98.33
Daily Pivot Point R1	100.09
Daily Pivot Point R2	100.57
Daily Pivot Point R3	100.97

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

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