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2 Feb 2015
AUD/JPY fills gap but remains with bearish bias
FXStreet (Guatemala) - AUD/JPY is currently trading at 91.28 with a high of 91.41 and a low of 90.62.
AUD/JPY has recovered the losses made on the open of Asia with a bid Japanese currency in thin markets. The 100 pip move puts the par back onto the 91 handle, closing the gap but maintains a bearish bias stemming from the November high at 102.84.
There is a negative sentiment around the Aussie currently.This has been building up, with the RBA jawboning the currency lower and fundamentals at work that may require rate cuts for the economy. Meanwhile, The week ahead brings a number of key events, one of which is indeed the RBA's policy meeting ahead of US Nonfarm payrolls at the end of the week. However, for today, we see second tier release in Nomura/ JMMA Manufacturing Purchasing Manager Index (Dec) from Japan, and then HSBC Manufacturing PMI (Jan) from China.
AUD/JPY has recovered the losses made on the open of Asia with a bid Japanese currency in thin markets. The 100 pip move puts the par back onto the 91 handle, closing the gap but maintains a bearish bias stemming from the November high at 102.84.
There is a negative sentiment around the Aussie currently.This has been building up, with the RBA jawboning the currency lower and fundamentals at work that may require rate cuts for the economy. Meanwhile, The week ahead brings a number of key events, one of which is indeed the RBA's policy meeting ahead of US Nonfarm payrolls at the end of the week. However, for today, we see second tier release in Nomura/ JMMA Manufacturing Purchasing Manager Index (Dec) from Japan, and then HSBC Manufacturing PMI (Jan) from China.