AUD/JPY rallies toward a five-month high near 85.60 amid risk-on mood


  • AUD/JPY extends the previous session’s upside on Wednesday.
  • RBA minutes, easing coronavirus restrictions and higher commodity prices keep aussie in demand.
  • The Japanese yen remains on the backfoot against majors on dovish BOJ.

AUD/JPY continues to gain on Wednesday in the early Asian session. The cross-currency pair is rising since the beginning of the October series. As of writing, the AUD/JPY is trading at 85.59, up 0.15% for the day.

Investors digested the Reserve Bank of Australia’s (RBA) latest monetary policy meeting minutes. RBA retreated its stance of no interest rate hikes before 2024 but the central bank affirmed that the economy is expected to return to the recovery path in December, and could reach pre-pandemic growth levels in mid-22.

In addition to that, the higher commodity prices also supported the upside rally in the Australian dollar. Furthermore, New South Wales, Australia’s most populated state removed mask mandates and has allowed larger groups indoors and outdoors, as the full vaccination rate reached 80%. The market ignores the Westpac Leading Index, which dropped 0.02 in September on yearly basis.

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 4,514, up 0.08% for the day. A Bank of Japan (BOJ) survey showed that Japanese households’ expectations for the year-ahead rose in the three months to September, and the economic outlook also worsened.

Meantime, Japan recorded a trade deficit of 622.80 Ұ billion in September.

As for now, the market dynamics continue to influence the pair's performance in the short term.

AUD/JPY additional levels

AUD/JPY

Overview
Today last price 85.62
Today Daily Change 0.15
Today Daily Change % 0.18
Today daily open 85.47
 
Trends
Daily SMA20 81.99
Daily SMA50 80.97
Daily SMA100 81.81
Daily SMA200 82.47
 
Levels
Previous Daily High 85.54
Previous Daily Low 84.66
Previous Weekly High 84.93
Previous Weekly Low 81.86
Previous Monthly High 82.03
Previous Monthly Low 78.85
Daily Fibonacci 38.2% 85.21
Daily Fibonacci 61.8% 85
Daily Pivot Point S1 84.91
Daily Pivot Point S2 84.35
Daily Pivot Point S3 84.03
Daily Pivot Point R1 85.79
Daily Pivot Point R2 86.1
Daily Pivot Point R3 86.67

 


 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD retreats below 1.1300 area as NFP-inspired dollar weakness fades

EUR/USD jumped to a daily high of 1.1333 with the initial market reaction to the disappointing November Nonfarm Payrolls data but quickly returned below 1.1300. Rising US Treasury bond yields seem to be helping the dollar stay resilient against its major rivals. 

EUR/USD News

GBP/USDdrops to 1.3250 area as dollar regains strength

GBP/USD spiked above 1.3300 in the early American session with the initial market reaction to the gloomy US November jobs report. However, the greenback regathered strength on hawkish Fed commentary and forced the pair to turn south.

GBP/USD News

Gold struggles to capitalize on weak NFP data, holds near $1,770

Gold spiked to a daily high near $1,780 with the initial market reaction to the disappointing Nonfarm Payrolls data from the US but seems to be having a difficult time preserving its bullish momentum with the 10-year US T-bond yield staying resilient.

Gold News

The bull and the bear case for BTC

Bitcoin price saw a bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. Bitcoin is likely to experience massive volatility as the situation resolves over time. 

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!

Forex MAJORS

Cryptocurrencies

Signatures