AUD/JPY attmepting to stablise but bearish

By FXStreet AUD/JPY is recovering from below the mid point of the 80.0 handle after a sell-off from the resistance of the 20 sma on thew hourly chart overnight at 81.42 highs.

The yen has garnered further strength as the week progresses with US stocks offering a poor performace overnight and the price of oil taking another turn to the downside withe recent recovery capped on $33bbls.

“Today we’ve already seen the Aussie Q4 wage price index, up 2.2% y-o-y, down from 2.3% in Q3, and continuing the trend towards ever-lower wage growth. That’s ever-more new normalish, and let’s note that one can buy less and less of an Aussie house with a pay rise like that,” as noted by analysts at Rabobank earlier. We will now await the Capex data tomorrow as the next catalyst while there has not been much reaction to the same beats from the same drum in Kurodas additional comments in parliament earlier today, explaining however that its not just the Yen that is strengthening, but dollar weakness. The yuan fix was another relatively stable show, 6.5302 vs yesterday’s mid point that was set at 6.5273.

AUD/JPY levels

AUD/JPY has been a better offered trade since yesterday’s …read more

Source:: FX Street