AUD/JPY Faces Some Selling Pressure Near 99.00 Following Japanese CPI Data

10 and one 10 us dollar bill

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  • AUD/JPY attracts some sellers to 98.90 in Friday’s early European session. 
  • Japan’s CPI inflation data rose to 2.8% YoY in February from 2.2% in January, which remains above the BoJ’s target.
  • Australia added 116.5K new employees in February, up from 15.3K in January.

The AUD/JPY cross faces some selling pressure around the 99.00 mark during the early European session on Friday. The uptick in Japanese Consumer Price Index (CPI) inflation data provides some support to the Japanese Yen (JPY) and weighs on the AUD/JPY. Investors will take more cues from the Australian monthly CPI next week. AUD/JPY currently trades near 98.98, down 0.63%.

The recent data from the Japan Statistics Bureau on Friday revealed that the nation’s CPI inflation data for February climbed to 2.8% YoY from 2.2% in January. This figure remains well above the Bank of Japan’s (BoJ) 2% target, boosting the JPY against the Australian Dollar on Friday. Furthermore, the Core CPI, which excludes volatile fresh food prices, rose to 2.8% in February from 2.0% in the previous month, in line with market expectations. 

On the Aussie front, the Australian Bureau of Statistics reported on Thursday that Australia added 116.5K new employees in February from 15.3K in the previous month. Meanwhile, the Unemployment Rate fell to 3.7% in February from 4.1% in January, stronger than the market expectation of 4.0%. 

Next week, the market players will monitor the Australian monthly CPI and Retail Sales for February. On the Japanese docket, Tokyo CPI for March will be a closely watched event. Traders will take cues from these events and find trading opportunities around the AUD/JPY cross. 


Today last price 98.95
Today Daily Change -0.67
Today Daily Change % -0.67
Today daily open 99.62


Daily SMA20 98.09
Daily SMA50 97.63
Daily SMA100 97.25
Daily SMA200 96.08


Previous Daily High 100.17
Previous Daily Low 99.29
Previous Weekly High 97.97
Previous Weekly Low 96.9
Previous Monthly High 99.06
Previous Monthly Low 95.5
Daily Fibonacci 38.2% 99.63
Daily Fibonacci 61.8% 99.83
Daily Pivot Point S1 99.21
Daily Pivot Point S2 98.81
Daily Pivot Point S3 98.33
Daily Pivot Point R1 100.09
Daily Pivot Point R2 100.57
Daily Pivot Point R3 100.97

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