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11 August 2017

Forex Technical analysis

11 August AUDJPY technical analysis


Trading AUDJPY? This 11 August AUDJPY technical analysis by HotForex market analysts will aid you in your trading today. What are the key drivers of AUDJPY?

11 August, AtoZForex - With the yen to continued rally as investors flocked to safe haven assets and currencies and Aussie, on the other hand, falling further down on RBA Governor Lowe speech, AUDJPY and in general major Aussie crosses continued moving on a weak Aussie path.

11 August AUDJPY technical analysis

Geopolitics might by the main mover for these crosses which is strictly also affected by recent strength on gold, however Governor’s speech overnight added further weakness on Australian Dollar.

According to Gov. Lowe statement:

 "The Reserve Bank Board has held the cash rate steady at 1.5 per cent, since this setting of monetary policy is supporting employment growth and a return of inflation to around its average rate of the past couple of decades. The Board has been prepared to be patient. The fact that the unemployment rate has been broadly steady has allowed us this patience. 

We have preferred a prudent approach, which is most likely to promote both macroeconomic and financial stability consistent with the medium-term inflation target.”

 He stated that further profits of Australian Dollar will slowdown Unemployment rate and inflation growth.

11 August AUDJPY technical analysis

Meanwhile AUDJPY broke the 86.00 support level, and performed a 0.9% loss by closing yesterday at 85.99  from 86.80 high. It is currently moving below 50 Days MA, at 85.70 after recovering earlier from 85.40s.   The next  support area on the  Daily chart is 86.50-87.00. 

North Korea US tensions

Meanwhile threats between US and N. Korean continue, with President  Trump doubled down on his threats to North Korea and maintaining edgy market sentiment, with Wall Street and stock markets in Asia taking a fresh beating and the Vix volatility index hitting a nine-month high. Military action is by no means assured, though this tensions with Pyongyang seem more climactic than in the past. Markets look set to remain choppy, caught in a binary risk-on/risk-off reaction function depending on how developments evolve.

In currency Market, USDJPY dove to a new eight-week low, at 108.90, EURJPY fell to a one-month low at 128.18, and EURUSD has settled around in the mid 1.17s, gaining ground amid a generally weaker dollar after U.S. data disappointments yesterday.

The article about 11 August AUDJPY technical analysis was written by Andria Pichidi, the Market Analyst at HotForex.


This article about 11 August AUDJPY technical analysis is provided as a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.

All information provided is gathered from reputable sources. Any information containing an indication of past performance is not a guarantee or reliable indicator of future performance.

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