AUDJPY Fundamental Outlook


Eyes are now on the RBA meeting this Tuesday and observers will be looking to see the surge in AUDUSD pair. What other informations are disclosed in the 5 February AUDJPY Fundamental Outlook? Take a look.

5 February, GKFX – AUD/JPY is currently trading at 87.14with a high of 87.31 and a low of 86.87 on yen strength as the risk-off flows continue at the start of the week following a poor performance in global equities.

5 February AUDJPY Fundamental Outlook

  • AUD/JPY better offered looking to break 87 handle.
  • AUD/JPY risk turns to RBA this week.

AUD/JPY has been on the backfoot of the 87 handle having slipped below the late Dec 2017 highs while the yen has gathered steam on the bid with investors liquidating their Asian equity positions last week that rolled over into weakness continued in Europe and accelerated in New York trade.

China’s Caixin services PMI: A big beat on expectations

“The S&P 500 fell 2.1% – the largest one-day fall since 2016. The DJIA slid -666pts, -2.5%. In an interview broadcast after the NY close, departing Fed chair Yellen pointed out that US equities and commercial real estate prices were high though she wouldn’t declare a bubble. Yellen also admitted that she was disappointed not to be offered a second term as Fed chair,”

explained analysts at Westpac.

Eyes on RBA

Eyes are now on the RBA meeting this Tuesday and observers will be looking to see the surge in AUD/USD from around 0.75 to highs above 0.81 is concerning to the RBA.

“In its December statement, the RBA toned down its concern over AUD strength, noting merely that the Aussie “remains within the range that it has been in over the past two years.” This language could be strengthened,”

explained analysts at Westpac.

AUD/JPY levels

If 87 gives out, then that will be the lowest level in since mid-Dec and support then come in at 86.40 ahead of 86.20 and 85.50. To the upside, the 4hr charts show congestion with the converging MAs around 87.90. A break onto 88.00 opens 88.50 double top highs.

Disclaimer

This article 5 February AUDJPY Fundamental Outlook was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

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