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20 Mar 2014
AUD/JPY weighed upon with AUD offers
FXStreet (Guatemala) - AUD/JPY has just started to break out of the sideways channel and is testing the downside onto 92.20 currently.
The Australian dollar has been somewhat whitewashed with the FOMC outcome that printed a more hawkish tone for market makers and traders to position upon and a broad based US dollar rally that was encountered across the screens in North American markets. Also, the AUD is being weighed upon by possible further Chinese bankruptcies looming on the chatter. Then with the Yen, there is tepid export growth in Japan and that has been a concern for policymakers, who are counting on stronger shipments to help cushion any slide in domestic consumption after the sales tax rise is weighing on the Yen. The BoJ could increase stimulus as one measure to help spur domestic growth in Japan that in turn would weaken the currency. The cross is trading with a neutral bias on the EMA’s and RSI (14) reads 44.60 currently.
The Australian dollar has been somewhat whitewashed with the FOMC outcome that printed a more hawkish tone for market makers and traders to position upon and a broad based US dollar rally that was encountered across the screens in North American markets. Also, the AUD is being weighed upon by possible further Chinese bankruptcies looming on the chatter. Then with the Yen, there is tepid export growth in Japan and that has been a concern for policymakers, who are counting on stronger shipments to help cushion any slide in domestic consumption after the sales tax rise is weighing on the Yen. The BoJ could increase stimulus as one measure to help spur domestic growth in Japan that in turn would weaken the currency. The cross is trading with a neutral bias on the EMA’s and RSI (14) reads 44.60 currently.