AUD/JPY recovers modestly after lowest close since 2012
FXStreet (Córdoba) – AUD/JPY is posting modest gains on Monday boosted by a stronger Australian dollar that is rising across the board. The pair peaked during the Asian session at 83.08 and then pulled back. Ahead of Tuesday it was trading at 82.70, up 0.75% for the day.
AUD/JPY consolidating ahead of more losses?
The pair dropped sharply again last week as it fell from 87.00 to 82.05. On Friday it posted slightly above 82.00 the lowest daily close since November 2012.
So far the area around 82.00 has been able to stop the downside; a break lower could trigger another bearish run. The pair still is trading on a free-fall mode on a wider perspective; today’s consolidation could be a positive sign for the Aussie.
On Tuesday, important economic data form Japan and Australia will be released but AUD/JPY is mostly likely to be influenced by risk sentiment. First, Japan will publish second quarter growth data that is expected to show a contraction of 0.4%, and then at 01:30 GMT in Australia the National Bank Business Condition survey will be released.
AUD/JPY is posting modest gains on Monday boosted by a stronger Australian dollar that is rising across the board. The pair peaked during the Asian session at 83.08 and then pulled back. Ahead of Tuesday it was trading at 82.70, up 0.75% for the day.
(Market News Provided by FXstreet)