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- Aussie trades with the Yen on the eve of the BoJ's big show this week
- Australian data is weaker than expected, suggesting a drop AUD to maintain a bullish position. The AUD / JPY sees a tight action with limited directional movement ahead of a key position for the Bank of Japan (BoJ), and the Aussie-Yen pairing is trading stiffly around 82.20
. AUD / JPY bounced between swing points from 82.00 to 82.80 last week, and this week saw a sharp contraction in the pair's movement as traders wait for the BoJ's latest monetary policy statement, which should arrive today at 02:00 GMT.
Australian traders are also awaiting building permit figures expected to arrive at 01:30 GMT, which are expected to remain stable at 0.0% after reading the previous month at -3.2%. The HIA New Home Sales data has already disappointed AUD traders, reaching 2.2% against the expected 4.5%, and although the indicator has improved compared to the contraction of -4.4% of the previous period, the improvement is much lower than expected.
AUD / JPY Levels to Watch
Aussie reached the lowest against the Yen at 81.80 last week after slipping to a high of 82.90, and this week saw a very gradual rise 82.00. A break below last week's low of 81.80 will see the pair exposed to further declines in early July close to the technical level of 81.00, while a bullish recovery still has a lot of ground to recover if the AUD / JPY is about to recover 83.90
View the 5 most predictable currency pairs
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