Job availability declined in Japan today for the first time since September of 2012. How does this impact the Japanese economy? Gain insight with this 30 March AUDJPY Fundamental Outlook.
30 March, GKFX – The AUD/JPY pair is dropping in Tokyo trading, falling to 81.50 as the Yen resumes climbing on thin holiday markets.
Disappointing macro data weighs on risk appetite
The Yen is experiencing a small bounce following Tokyo CPI figures that largely missed expectations, and risk aversion is mildly impacting markets heading into the Easter long weekend.
Job availability also declined in Japan today for the first time since September of 2012, and the unemployment rate also ticked up, applying further pressure to an economy that is struggling to gain traction in increasing wages,
30 March AUDJPY Fundamental Outlook
The AUD has been a consistent loser against the Yen since late January, and recent attempts to regain footing have been met by intense resistance from early March’s swing low at 81.85, with further near-term resistance sitting over last week’s failed push higher at 82.55, while today’s drop sees the pair challenging intraday support from last week’s swing lows at 81.45, with further support at Wednesday’s low of 80.75.
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