Fundamental Analysis of AUD/JPY for April 13, 2018

AUD/JPY is quite impulsive with the bullish gains after the break above 82.00 price area recently. Recently published mixed economic reports of JPY lead the price to become more impulsive with the AUD gains whereas further bullish pressure is expected in the coming days. Recently JPY BOJ Governor Kuroda spoke about the monetary policies and economic development which failed to impress the market participants with a neutral point of view. On the other hand, despite having mixed economic reports as well AUD gained good momentum over JPY which does indicate the severe weakness of JPY in the process. Today AUD RBA Financial Stability Review report was published with a hawkish result which leads AUD to become more impulsive with its bullish gains in the process. As of the current scenario, AUD is expected to continue the gains further in the coming days whereas JPY may struggle further for the coming weeks.

Now let us look at the technical view. The price is currently residing above the dynamic level of 20 EMA proceeding impulsively towards 84.50 price area from where if it is broken with a daily close, further bullish pressure may be observed with a target towards 87.50-89.00 price area. As the price remains above 80.00 area, the bullish bias is expected to continue further.

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The material has been provided by InstaForex Company - www.instaforex.com