This article examines USD/JPY and AUD/USD from a fundamental and technical point of view, analyzing the key drivers that could guide the markets and that traders should focus on in the near term.
U.S. economic data released this morning accelerated the greenback’s descent after reinforcing the pullback in Treasury yields. For context, U.S. labor costs showed a surprising contraction in the third quarter, falling 0.8% versus expectations for a 0.7% increase, indicating that wage pressures are easing at a time of rising productivity, an encouraging development for the central bank.
USD/JPY fell on Thursday, extending losses for the second straight day after failing to clear resistance around the psychological 152.00 level earlier in the week. If the decline extends further in the coming sessions, support is seen at 148.75. While the pair may establish a base in this area on a pullback, a breakdown might entice new sellers into the market, potentially resulting in a drop toward 147.30.
AUD/USD has been in a prolonged downtrend, with sharp declines since mid-July, as shown in the chart below. Late last week, however,managed to find support near the 0.6275 area before staging a moderate comeback in the days that followed. This rebound took the pair above trendline resistance and the 50-day simple moving average, creating a more constructive backdrop for the Australian dollar.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Forecast: Under pressure as Dollar gains momentumThe US Dollar strengthened ahead of key events and economic reports, pushing the AUD/USD pair below 0.
Read more »
AUD/USD Forecast: Rising odds of a break above 0.6400The AUD/USD maintained its gains following the FOMC meeting and traded near the 0.
Read more »
AUD/USD jumps close to 0.6440 as risk-on mood dampens US Dollar appealThe AUD/USD pair jumps sharply towards 0.6440 as the US Dollar faces an intense sell-off.
Read more »
USD/JPY pinned into the high end near 151.80 after dobish BoJ leaves Yen to flounderThe USD/JPY is inches away from setting a new three-decade high as the pair trades into 151.
Read more »
USD/JPY retreats from the yearly high, hovers above 151.00USD/JPY trades around 151.20 during the Asian session on Wednesday, pulling back from the yearly high marked after the Bank of Japan (BoJ) removed the 1% ceiling for the 10-year government bond yield on Tuesday.
Read more »
USD/JPY Price Analysis: Remains above 151.00 post retreating from a yearly highUSD/JPY consolidates near 151.20 during the European session on Wednesday, pulling back from the recent yearly high of 151.
Read more »