AUD/JPY jumps 25 pips on slightly upbeat Aussie jobs report
- A better-than-expected Aussie jobs report seems to have put a bid under the AUD/JPY pair.
- The Aussie jobless rate dipped to 5 percent in December. The employment change number printed well above forecast.
- Full-time jobs dropped by 3K in December.
The AUD/JPY cross jumped 24 pips to a session high of 78.47 after the Australian Bureau of Statistics reported an above-forecast headline employment numbers for December.
The economy added 21.6K jobs in December, following an upwardly revised 39K additions in November. Notably, the December figure has bettered the estimate of 16.5K by a big margin.
Further, the seasonally adjusted jobless rate fell to 5 percent from 5.1 percent in November.
The details, however, reveal that the quality of job growth was not impressive. Moreover, the full-time job fell by 3K in December, having dropped by -6.4K in the previous month.
Even so, the Aussie is trading on the offensive, which indicates the markets are currently focusing on the impressive headline figure.
Looking ahead, the AUD/JPY cross could find acceptance above 78.50 if the equities pick up a bid sending the anti-risk JPY lower across the board.
AUD/JPY Technical Levels
AUD/JPY
Overview:
Today Last Price: 78.26
Today Daily change: -0.04 pips
Today Daily change %: -0.05%
Today Daily Open: 78.3
Trends:
Daily SMA20: 77.72
Daily SMA50: 79.91
Daily SMA100: 80.32
Daily SMA200: 81.26
Levels:
Previous Daily High: 78.42
Previous Daily Low: 77.83
Previous Weekly High: 79.11
Previous Weekly Low: 77.56
Previous Monthly High: 84.05
Previous Monthly Low: 77.15
Daily Fibonacci 38.2%: 78.19
Daily Fibonacci 61.8%: 78.06
Daily Pivot Point S1: 77.95
Daily Pivot Point S2: 77.59
Daily Pivot Point S3: 77.36
Daily Pivot Point R1: 78.54
Daily Pivot Point R2: 78.77
Daily Pivot Point R3: 79.13
Author
Omkar Godbole
FXStreet Contributor
Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.
