#AUDJPY @ 93.0600 AUDJPY is gyrating in a wide range above 93.00 as the focus has shifted to the RBA minutes release. (Pivot Orderbook analysis)

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• AUDJPY is gyrating in a wide range above 93.00 as the focus has shifted to the RBA minutes release.
• As per the consensus, the Australian economy has added 15k jobs in the labor market.
• A slowdown in Japan’s GDP data could vanish the Japanese yen’s relief rally.

The pair currently trades last at 93.0600.

The previous day high was 94.26 while the previous day low was 92.61. The daily 38.2% Fib levels comes at 93.24, expected to provide resistance. Similarly, the daily 61.8% fib level is at 93.63, expected to provide resistance.

The AUDJPY pair is displaying wild moves above the crucial support of 93.00 in the Tokyo session. The asset has been declining consecutively for the past four trading sessions and expectations for further volatility still exist amid an overall recovery in the Japanese yen.

Apart from that, anxiety ahead of the release of the monetary policy minutes from the Reserve Bank of Australia (RBA) has also brought volatility in the Aussie dollar. This will provide a detailed explanation behind the announcement of the 25 basis points (bps) rate hike in November. Investors should be aware of the fact that RBA Governor Philip Lowe continued the 25 bps rate hike regime this month despite, a historic surge in third-quarter inflation data. The RBA didn’t return to the prior 50 bps rate hike structure and continued hiking rates further by a smaller rate.

To keep the economic prospects stable along with the agenda of bringing price stability, the RBA seems to prefer to go small at recurring intervals rather than going all in at a single bet.

This week, the antipodean will also release the employment data, which is due on Thursday. The Employment Change is seen higher at 15k vs. the prior release of 0.9k. While the Unemployment Rate is seen stable at 3.5%.

On the Tokyo front, Tuesday’s Gross Domestic Product (GDP) data will remain in focus. The economic data is seen lower at 0.3% vs. the prior release of 0.9% on a quarterly basis while the annualized figure may decline to 1.1% from the former release of 3.5%. The Bank of Japan (BOJ) has been citing warning signals of a slowdown due to external economic shocks and the chances of the inflation rate returning below 2%.

Technical Levels: Supports and Resistances

AUDJPY currently trading at 93.25 at the time of writing. Pair opened at 93.03 and is trading with a change of 0.24 % .

The pair is trading below its 20 Daily moving average @ 94.27, below its 50 Daily moving average @ 94.49 , below its 100 Daily moving average @ 94.24 and above its 200 Daily moving average @ 92.06

The previous day high was 94.26 while the previous day low was 92.61. The daily 38.2% Fib levels comes at 93.24, expected to provide resistance. Similarly, the daily 61.8% fib level is at 93.63, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 92.34, 91.65, 90.7
• Pivot resistance is noted at 93.99, 94.94, 95.63

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