MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Fundamental analysis of AUD/JPY for December 27, 2018

AUD/JPY has been quite impulsive with the bearish pressure recently which had an impulsive bullish pressure with a daily close yesterday above 78.50 area. AUD managed to push against JPY yesterday in an impulsive manner but failed to sustain it today.

Despite JPY having worse economic reports recently, it managed to rise against AUD with certain impulsiveness today which indicates the level of volatility and indecisive pressure in the market. Recently the BOJ Core CPI report was published with a decrease to 0.5% which was expected to be unchanged at 0.6% along with the Monetary Policy Meeting Minutes. Besides, BOJ Governor Kuroda's speech which was quite neutral for Japan's economy for the immediate effect but optimistic in some areas. Today Japan's Housing Starts report was published with a significant decrease to -0.6% from the previous value of 0.3% which was expected to be at -0.2%. Additionally, tomorrow Tokyo Core CPI report is going to be published which is expected to decrease to 0.9% from the previous value of 1.0%. Furthermore, the unemployment rate is expected to be unchanged at 2.4% while the retail sales is expected to decrease to 2.1% from the previous value of 3.6% and the prelim industrial production report is expected to show a decrease as well to -1.7% from the previous value of 2.9%.

On the other hand, on the occasion of Christmas and Boxing Day, this week there were no economic reports or events on the AUD side leading the currency to lose certain grounds against JPY in the process.

As of the current scenario, JPY is currently gaining momentum quite impulsively against AUD but dovish expectation for the upcoming economic reports and worse results may lead to certain weakness of JPY in the coming days leading to certain short-term gains on the AUD side.

Now let us look at the technical view. The price is currently quite impulsive with the bearish pressure after having a strong bullish candle pushing the price above 78.50 area yesterday with a daily close. The price is still expected to push higher but a daily close above 78.50 is expected to lead to an impulsive bullish pressure. As the trend is bearish, the bullish momentum is expected to be a pullback in the trend as the price continues its bearish pressure in the future. As the price remains below 80.00 area with a daily close, the bearish bias is expected to continue.

SUPPORT: 75.00, 77.00

RESISTANCE: 78.50, 80.00

BIAS: BEARISH

MOMENTUM: NON-VOLATILE

analytics5c24d2b7e025b.png

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