AUD/JPY inches toward 0.8600 post Australia upbeat CPI


  • AUD/JPY posts gains for the third straight day on Wednesday.
  • The Aussie jumps against majors post upbeat CPI data.
  • The Japanese yen remains on the backfoot on dovish BOJ, risk-on mood.

AUD/JPY continues to gain on Wednesday in the early Asian session. The cross-currency pair has been rising since the beginning of the October series. As of writing, the AUD/JPY is trading at 85.93 up 0.36% for the day.

Investors cheered up Australia's upbeat inflation data. The Consumer Price Index (CPI) came at 0.8% in line with market expectations on a quarterly basis. The Reserve Bank of Australia (RBA) Trimmed Mean CPI reported at 0.7% QoQ basis, beating the market consensus of 0.5%. The aussie gains on the expectations that the higher inflation readings will prompt the RBA to raise the cash rate before 2024. 

In addition to that, the reopening of Australian borders supports the sentiment surrounding the aussie. As per the latest update fully vaccinated Australian citizens and permanent residents will no longer require an exemption from outbound travel from Australia from November 1.

On the other hand, the Japanese yen lost its momentum amid an improved risk appetite among investors. It is worth noting that S&P 500 Futures is trading at 4,569, up 0.07% for the day. Further, the market is bracing for the Bank of Japan (BOJ) dovish monetary policy announcement on Thursday. The BoJ is expected to maintain its massive stimulus program while signaling more delays in the economic recovery.

As for now, the market dynamcis continue to influecne the pair's performance.

AUD/JPY additional levels

AUD/JPY

Overview
Today last price 85.7
Today Daily Change 0.07
Today Daily Change % 0.08
Today daily open 85.63
 
Trends
Daily SMA20 83.22
Daily SMA50 81.44
Daily SMA100 81.84
Daily SMA200 82.6
 
Levels
Previous Daily High 85.92
Previous Daily Low 85.12
Previous Weekly High 86.26
Previous Weekly Low 84.28
Previous Monthly High 82.03
Previous Monthly Low 78.85
Daily Fibonacci 38.2% 85.62
Daily Fibonacci 61.8% 85.43
Daily Pivot Point S1 85.2
Daily Pivot Point S2 84.76
Daily Pivot Point S3 84.39
Daily Pivot Point R1 86
Daily Pivot Point R2 86.36
Daily Pivot Point R3 86.8

 

 

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