AUD/JPY - Can the AUD outperform the JPY?
COMMENTARY
The AUD seems to be gaining the most against the JPY compared to the following G10 Fx pairs including the NZD, CAD, EUR, and the USD in front of tomorrow's Reserve Bank of Australian (RBA) interest rate decision. High price action across the AUD cross pairs is expected upon tomorrow's RBA rate decision.
Current price for the AUD/JPY is above its 40 day moving average (bullish), MACD above its signal line (bullish), rate of change 13 day above its signal line (bullish); upside potential for a retest of the 92.8s provided price can remain above the 89.9 support; downside risk on break below the 89.9 support could position short sellers to target the 87.90 area.
Not investment advice. Past performance is not indicative of future results.
The AUD seems to be gaining the most against the JPY compared to the following G10 Fx pairs including the NZD, CAD, EUR, and the USD in front of tomorrow's Reserve Bank of Australian (RBA) interest rate decision. High price action across the AUD cross pairs is expected upon tomorrow's RBA rate decision.
Current price for the AUD/JPY is above its 40 day moving average (bullish), MACD above its signal line (bullish), rate of change 13 day above its signal line (bullish); upside potential for a retest of the 92.8s provided price can remain above the 89.9 support; downside risk on break below the 89.9 support could position short sellers to target the 87.90 area.
Not investment advice. Past performance is not indicative of future results.
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