The AUDJPY is staying cautious at 94.75 before the important BoJ event.
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- AUD/JPY remains on the defensive around 94.75 ahead of the BoJ key event.
The pair currently trades last at 94.7400.
The previous day high was 95.76 while the previous day low was 94.54. The daily 38.2% Fib levels comes at 95.0, expected to provide resistance. Similarly, the daily 61.8% fib level is at 95.29, expected to provide resistance.
The AUD/JPY cross remains under selling pressure and trades in negative territory for the second consecutive day during the early Asian session on Friday. At the press time, the cross is up 0.03% on the day at 94.71.
The latest data on Friday showed that the preliminary S&P Global Australian Services PMI posted 50.5 in September, improved from 47.8 in August. On the other hand, the Manufacturing PMI declined to 48.2 from 49.6 in the previous reading. The Composite Index was also improved from 48.0 to 50.2. The mixed Australian economic data fail to boost the Aussie as investors turn to a cautious mood ahead of the highly-anticipated Bank of Japan (BoJ) interest rate decision.
On the Japanese Yen front, BoJ is widely expected to keep its short-term interest rate target of -0.1% and its 10-year bond yield target of around 0%. The Japanese central bank has previously declared that monetary policy shifts would not be considered until local wage and inflation data meet its projections. Markets are eager to see whether Governor Kazuo Ueda would deliver any fresh signals regarding the timing of a policy move and other tweaks to its Yield Curve Control (YCC) during his post-meeting press conference.
About the data, Japan’s National Consumer Price Index (CPI) for August came in at 3.2% YoY from 3.3% in July. Additionally, the National CPI ex Fresh Food improved from 3.0% in July to 3.1% in August, whereas the National CPI ex Food, Energy came in at 4.3% compared to 4.3% in previous readings.
Market participants will closely watch the Bank of Japan (BoJ) interest rate decision due later on Friday. This event could trigger the volatility in the market and give a clear direction to the AUD/JPY cross.
Technical Levels: Supports and Resistances
AUDJPY currently trading at 94.72 at the time of writing. Pair opened at 94.69 and is trading with a change of 0.03 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 94.72 |
| 1 | Today Daily Change | 0.03 |
| 2 | Today Daily Change % | 0.03 |
| 3 | Today daily open | 94.69 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 94.58, 50 SMA 94.36, 100 SMA @ 94.0 and 200 SMA @ 92.08.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 94.58 |
| 1 | Daily SMA50 | 94.36 |
| 2 | Daily SMA100 | 94.00 |
| 3 | Daily SMA200 | 92.08 |
The previous day high was 95.76 while the previous day low was 94.54. The daily 38.2% Fib levels comes at 95.0, expected to provide resistance. Similarly, the daily 61.8% fib level is at 95.29, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 94.23, 93.77, 93.01
- Pivot resistance is noted at 95.45, 96.22, 96.68
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 95.76 |
| Previous Daily Low | 94.54 |
| Previous Weekly High | 95.55 |
| Previous Weekly Low | 93.65 |
| Previous Monthly High | 95.81 |
| Previous Monthly Low | 92.79 |
| Daily Fibonacci 38.2% | 95.00 |
| Daily Fibonacci 61.8% | 95.29 |
| Daily Pivot Point S1 | 94.23 |
| Daily Pivot Point S2 | 93.77 |
| Daily Pivot Point S3 | 93.01 |
| Daily Pivot Point R1 | 95.45 |
| Daily Pivot Point R2 | 96.22 |
| Daily Pivot Point R3 | 96.68 |
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