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9 Jan 2015
AUD/JPY contained on mixed price action, supported at 97.20
FXStreet (Guatemala) - AUD/JPY has failed on the upside with attempts capped after a flurry of activity through the Greenback and the australian dollar.
First up, there was Fed chatter hitting the wires. Narayana Kocherlakota, Fed member, who is talking on monetary policy and suggesting that Federal Reserve should not raise interest rates this year.
We then had the Chinese data. China's Consumer Price Index (MoM) (Dec) arrived at 0.3% vs 0.3% expected and -0.2% previous, while the yearly reading stood at 1.5% vs 1.5% expected and 1.4% last. Meanwhile, the Producer Price Index (YoY) (Dec) came at -3.3% vs -3.1% expected and -2.7% last.
From here, we are looking ahead to the Nonfarm Payrolls coming up in the US session which could be the catalyst for a strong dollar again should labour markets be seen finishing strong into the year of of 2014. Key will be the Aussies performance with key support areas ahead while the Yen's position could be set back into the 120's again and beyond. The cross needs a bullish close above the 98.80 level to keep the bears at bay while otherwise, 94.00 is eyed as a target to the downside.
First up, there was Fed chatter hitting the wires. Narayana Kocherlakota, Fed member, who is talking on monetary policy and suggesting that Federal Reserve should not raise interest rates this year.
We then had the Chinese data. China's Consumer Price Index (MoM) (Dec) arrived at 0.3% vs 0.3% expected and -0.2% previous, while the yearly reading stood at 1.5% vs 1.5% expected and 1.4% last. Meanwhile, the Producer Price Index (YoY) (Dec) came at -3.3% vs -3.1% expected and -2.7% last.
From here, we are looking ahead to the Nonfarm Payrolls coming up in the US session which could be the catalyst for a strong dollar again should labour markets be seen finishing strong into the year of of 2014. Key will be the Aussies performance with key support areas ahead while the Yen's position could be set back into the 120's again and beyond. The cross needs a bullish close above the 98.80 level to keep the bears at bay while otherwise, 94.00 is eyed as a target to the downside.