Audjpy news

Here are some recent news and updates related to the AUD/JPY currency pair:

Current Market Situation:

• The AUD/JPY pair is currently trading at around 76.50, with a slight upward trend.
• The pair has been range-bound for the past few weeks, with prices oscillating between 75.50 and 77.50.
• The Australian dollar has been affected by the ongoing trade tensions between the US and China, as well as the country's own economic concerns.

Recent News and Events:

• Australian Employment Data: The Australian Bureau of Statistics (ABS) released employment data for January, showing a surprise increase in jobs growth. The unemployment rate fell to 5.1%, beating expectations.
• Japanese GDP Data: Japan's Ministry of Internal Affairs and Communications released GDP data for Q4 2022, showing a 0.4% contraction. This was worse than expected, and the data has weighed on the Japanese yen.
• RBA Interest Rate Decision: The Reserve Bank of Australia (RBA) kept interest rates unchanged at 0.75% in its February meeting. The decision was widely expected, and the AUD/JPY pair was unaffected.
• US-China Trade Talks: The US and China are set to resume trade talks in Washington DC this week. The outcome of the talks is uncertain, but a positive outcome could boost the AUD/JPY pair.

Technical Analysis:

• The AUD/JPY pair is trading above its 50-day and 200-day moving averages, indicating a bullish trend.
• The Relative Strength Index (RSI) is around 55, suggesting that the pair is neither overbought nor oversold.
• The pair is approaching a key resistance level at 77.50, which could be tested in the coming days.

Fundamental Analysis:

• The Australian dollar is likely to be affected by the country's economic data, including inflation and retail sales figures.
• The Japanese yen is sensitive to global market sentiment and interest rate expectations.
• The AUD/JPY pair is also influenced by the interest rate differential between the two countries, with the RBA keeping rates lower than the Bank of Japan.

Trading Strategies:

• Long-term traders may consider buying the AUD/JPY pair if it breaks above the 77.50 resistance level.
• Short-term traders may look to sell the pair if it falls below the 75.50 support level.
• Traders may also consider trading the pair based on the interest rate differential and economic data releases.

Please note that this is not investment advice, and you should always consult with a financial advisor before making any trading decisions.