Fundamental analysis of AUD/JPY for June 16, 2017 888011000 110888 AUD/JPY is presently in an impulsive bullish run after the favorable economic report released yesterday. The Australian Employment Change report was released with a better than anticipated result at 42.0 k versus the forecast of 9.7 k. Moreover, the joblessness rate decreased to 5.5% which was anticipated to be the same at 5.7%. With the favorable work reports, AUD got an enormous boost versus JPY the other day which can still be observed. Today the Bank of Japan exposed its policy statement, leaving the rate unchanged. As the short-term interest rate is one of the essential aspects for currency appraisal, this news might not offer much assistance to the Japanese currency to contend versus the aussie. As of the existing fundamental scenario, AUD is expected to control over JPY in the coming days.Now let uslook at the technical view. The cost is currently at the edge of the resistance level of 84.50. If it breaks above the level with an everyday close today then we will be looking forward to buy with a target towards 86.20. As the market has currently shown a good quantity of fatigue recently, additional bullish relocation is anticipated in this pair. The bullish bias is expected to continue till price breaks listed below 83.00 with an everyday close. The material has been supplied by InstaForex Business

By | June 16, 2017

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