AUD/JPY Price Forecast: Strengthens above 113.50 as bullish momentum persists above 100-day SMA
Australia's labour market continued to soften in July, with unemployment rising to 4.5%, employment contracting and participation falling. The data is unlikely to trigger an RBA policy shift, but it further reduces the case for another hike.
After rising for ten successive sessions, AUD/JPY has flashed red in two successive sessions, raising questions on what it means for traders.
AUD/JPY Price Forecast: Strengthens to near 113.50, near-term outlook remain constructive
AUD/JPY Price Forecast: Edges higher above 113.00, bullish bias prevails above 100-day SMA
AUD/JPY Price Forecast: Weakens to near 112.50, near-term outlook remains bearish
AUD/JPY Price Forecast: Softens below 112.50 as near-term bearish bias persists below 100-day SMA
AUD/JPY Price Forecast: Softens to near 111.00 as bearish bias holds below key technical barriers
The AUD/JPY forex pair has declined sharply since late July and for a carry trade favourite, investors are weighing how to position themselves
Improving risk sentiment helped lift the Australian dollar after easing Middle East tensions and stronger US economic data. While AUD/USD, AUD/JPY and AUD/NZD all advanced, each cross is approaching important technical levels that could determine whether the rally extends or fades.
AUD/JPY Price Forecast: Rebounds above 110.50, but remains capped below key resistance