AUD/JPY Steeply Off Recent Highs After Rumored BoJ FX Intervention, Trading South Of 94.00
Image Source: Unsplash
- The AUD/NZD is steeply off near-term highs after a rumored BNoJ FX market intervention.
- The Aussie is down over 3% against the Yen from Friday's peak of 96.94.
- The RBA stood pat on rates this week, Australian Trade Balance data due Thursday.
The AUD/JPY is down 145 pips for Tuesday, rounding the corner into the Wednesday market session after getting knocked lower on the back of an as-yet-unconfirmed FX market intervention by the Bank of Japan (BoJ) to defend the Japanese Yen (JPY).
No official statement from the BoJ has been forthcoming yet, but the AUD/JPY declined over 137 pips inside sixty seconds peak-to-trough during Tuesday's Asia market session, and the pair has traded flatly near the 94.00 handle after recovering over 50% of the initial one-minute move.
The Reserve Bank of Australia (RBA) held rates steady at 4.1% as markets broadly expected, and new RBA Governor Michele Bullock is in no rush to buck the trend on the RBA's wait-and-see policy playbook.
Thursday will bring Australian Trade Balance figures, with the month-over-month number for August expected to improve from 8,039M to 8,725M.
AUD/JPY technical outlook
The AUD?JPY has been knocked well back from Friday's peak, trading below the 100-day Simple Moving Average (SMA) and set for a challenge of the flat-lining 200-day SMA if bullish momentum continues.
Despite the unconfirmed BoJ Yen intervention and a rapid twist to technical indicators, the AUD/JPY remains constrained in familiar territory, with the pair consolidating between 93.00 and 96.00.
AUD/JPY daily chart
(Click on image to enlarge)
AUD/JPY technical levels
AUD/JPY
| OVERVIEW | |
|---|---|
| Today last price | 93.96 |
| Today Daily Change | -1.40 |
| Today Daily Change % | -1.47 |
| Today daily open | 95.36 |
| TRENDS | |
|---|---|
| Daily SMA20 | 95.01 |
| Daily SMA50 | 94.46 |
| Daily SMA100 | 94.32 |
| Daily SMA200 | 92.29 |
| LEVELS | |
|---|---|
| Previous Daily High | 96.42 |
| Previous Daily Low | 95.28 |
| Previous Weekly High | 96.92 |
| Previous Weekly Low | 94.72 |
| Previous Monthly High | 96.92 |
| Previous Monthly Low | 93.59 |
| Daily Fibonacci 38.2% | 95.71 |
| Daily Fibonacci 61.8% | 95.98 |
| Daily Pivot Point S1 | 94.95 |
| Daily Pivot Point S2 | 94.55 |
| Daily Pivot Point S3 | 93.81 |
| Daily Pivot Point R1 | 96.09 |
| Daily Pivot Point R2 | 96.82 |
| Daily Pivot Point R3 | 97.23 |
More By This Author:
Gold Price Analysis: XAU/USD Trying To Hit The Brakes, Down Into $1,824 For TuesdayGBP/USD Price Analysis: Poised To Challenge The 1.2000 mark
USD/JPY Tumbles Toward 147.00 As Japanese Yen Soars; Signs Of Possible Interventions
Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...
more
Comments
