Fundamental Analysis of AUD/JPY for August 10, 2018 888011000 110888 AUD/JPY has actually been rather impulsive with the current bearish gains which lead the rate to live below 82.00 support area with a daily close just recently. The cost has been restorative and quite unpredictable previously as the price cleared one of the importance levels in the process, more bearish momentum is expected.AUD has been having a hard time with the combined financial reports recently which lead the currency to damage even more in the process versus JPY. Today JPY Prelim GDP report was released with a significant increase to 0.5 %from the previous negative worth of -0.2% which was anticipated to be at 0.3%, PPI increased to 3.1%from the previous worth of 2.8% which was expected to be at 2.9 %and Prelim GDP Rate Index carried out much better than expected at 0.1%though decreasing from the previous value of 0.5%however better than anticipated value of 0.0%. On the AUD side, today RBA Monetary Policy Statement was held which was rather neutral with the result leading the currency to a particular indecisive phase while doing so. Regardless of the combined financial reports, economically AUD is a bit struggling to get momentum in the market which resulted to more bearish pressure in the process.As of the existing scenario, JPY is anticipated to acquire further overAUD resulting additional bearish momentum at the same time. As JPY performing better sentimentally and fundamentally, it is expected to control AUD further in the coming days.Now let us look at the technical view. The price is presently residing below 82.00 area and dynamic level of 20 EMA with a daily close, which is anticipated to press the price much lower towards 80.50 location in the coming days. As the price remains listed below 84.50 area with a daily close, the bearish bias is anticipated to continue further.SUPPORT: 80.50 RESISTANCE: 82.00, 84.50 BIAS: BEARISH MOMENTUM: IMPULSIVE The product has actually been supplied by InstaForex Company – www.instaforex.com

By | August 10, 2018

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