- The AUD/JPY goes back for the third consecutive day in the midst of a combination of negative factors.
- The increase in tensions in the Middle East and commercial uncertainties benefit the JPY and weigh on Aussie.
- Betting for an increase in Boj rates support JPY further and contribute to the intradic fall.
The Aud/JPY crossing attracts sellers for the third consecutive day on Friday and collapses to a minimum of almost two weeks, around the 92.30 region during the Asian session. However, cash prices recovered some Pips in the last hour and are currently negotiated just below the level of 93.00, even lowering more than 0.80% in the day.
The global risk feeling is affected in the midst of the increase in tensions in the Middle East and the persistent uncertainties related to trade, which, in turn, weighs on risk sensitive aussie and benefits Japanese Yen (JPY) as an active refuge. In fact, Israel launched a preventive attack against Iran, pointing to nuclear and missile sites, as well as military barracks. In addition, the US president, Donald Trump, expanded steel tariffs on a range of appliances, which weighs even more about the feeling of investors.
In addition, the growing acceptance that the Bank of Japan (BOJ) will remain on the road to the normalization of monetary policy turns out to be another factor that supports the JPY. Apart from this, some technical sales below the level of 93.00 contributed to the fall. However, a relative force index (RSI) slightly supervened in the 1 -hour graph stops bassists to make new bets and help the Aud/JPY crossing to bounce around 50 pips from the minimum daily.
However, the aforementioned fundamental background suggests that the way of lower resistance for cash prices remains down and supports the case for an extension of the recent setback from a maximum of four weeks reached Wednesday. Therefore, any attempt to recover intradica at the Aud/JPY crossing could be seen as an opportunity for sale and run the risk of fading quickly.
And in Japanese price today
The lower table shows the rate of change of Japanese Yen (JPY) compared to the main currencies today. Yen Japanese was the strongest currency against the Australian dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.32% | 0.32% | -0.29% | 0.14% | 0.67% | 0.56% | -0.38% | |
| EUR | -0.32% | 0.05% | -0.55% | -0.11% | 0.44% | 0.22% | -0.70% | |
| GBP | -0.32% | -0.05% | -0.66% | -0.25% | 0.30% | 0.15% | -0.73% | |
| JPY | 0.29% | 0.55% | 0.66% | 0.44% | 0.97% | 0.83% | -0.09% | |
| CAD | -0.14% | 0.11% | 0.25% | -0.44% | 0.52% | 0.44% | -0.49% | |
| Aud | -0.67% | -0.44% | -0.30% | -0.97% | -0.52% | -0.13% | -1.03% | |
| NZD | -0.56% | -0.22% | -0.15% | -0.83% | -0.44% | 0.13% | -0.90% | |
| CHF | 0.38% | 0.70% | 0.73% | 0.09% | 0.49% | 1.03% | 0.90% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the Japanese yen from the left column and move along the horizontal line to the US dollar, the percentage change shown in the picture will represent the JPY (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
