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21 Apr 2015
AUD/JPY: Bulls facing set backs within bull trend
FXStreet (Guatemala) - AUD/JPY is currently trading at 92.36 with a high of 92.67 and a low of 91.75.
AUD/JPY has suffered a set-back and within the upside move which puts the bulls at risk around the 92.40 congestion area. The supply came in at the opening bullish gap formed at the start of this week and support now has the cross in consolidation.
The RBA minutes gave us reasons for why there was no cut in April, but the door is left wide open for required actions further down the line, and possibly as soon as May still. However, the RBA are monitoring data closely in this regard, and the last jobs report was solid. Stevens has however been jaw boning the Aussie in the background, so there remains a soft undertone in the cross.
AUD/JPY has suffered a set-back and within the upside move which puts the bulls at risk around the 92.40 congestion area. The supply came in at the opening bullish gap formed at the start of this week and support now has the cross in consolidation.
The RBA minutes gave us reasons for why there was no cut in April, but the door is left wide open for required actions further down the line, and possibly as soon as May still. However, the RBA are monitoring data closely in this regard, and the last jobs report was solid. Stevens has however been jaw boning the Aussie in the background, so there remains a soft undertone in the cross.