empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

01.06.201721:47 Forex Analysis & Reviews: Fundamental Analysis of AUD/JPY for June 2, 2017

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

AUD/JPY bearish trend seems to be quite intact as the break above 83.00 is now considered as a false break. As of the mixed economic reports on the Australian economic reports recently AUD is currently quite weaker than JPY. Today JPY has Monetary Base report to be published which is expected to have a minor fall to 19.6% which was at 19.8 previously and Consumer Confidence is expected to rise to 43.6 which was 43.2 previously. As of the recent JPY economic events like Capital Spending and Flash Manufacturing PMI, the economy has shown a good amount of growth in its figures which did reflect in the chart against AUD. On the AUD side, today HIA New Home Sales report is going to be published which is going to have a major impact as it is a leading indicator of economic health due to new home sales provides information about new purchases and sales of the products which does have direct effect on the economy and this time it is expected to provide a better figure which previously was at -1.1%. As of the current situation of the both currencies in this pair, JPY is expected to gain more against AUD in the coming days due to better economic reports on the Japanese side rather than mixed economic reports on the Australian economy.

Now let us look at the technical view, the price has rejected quite well after the JPY economic reports showed better outcomes than the AUD reports recently. Currently, the price is below the resistance level of 83.00 and as the price remains below the level further bearish move is expected in this pair with the nearest target towards 81.50. If price breaks below 81.50 then we might see a further downward move with a much lower target towards 79.20 area. As the price remains below 83.00 we are in bearish bias until we see a daily close above the level.

Exchange Rates 01.06.2017 analysis

InstaForex Analyst
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off