Posts tagged ‘Audjpy’

February 15, 2012

The golden goose

Talk is of real money buying gold having bought Aussie ytdy and today. The reason for the gold purchase could be anything from uncertainty about the situation in Iran, BOJ liquidity add, Greece receiving/not receiving as second tranche, or FOMC on verge of another QE anticipating a fiscal drag. Plenty of reasons to shun the Big 3 at the moment. Techs played in Aussie’s favor well ahead of gold move as EUR/AUD slipped under 1.2200 on its way toward 2012 low of 1.2127. CRB +0.41% with oil back up at 101.30. AUD/JPY margin longs cut positions with 83.90 being key support on downside. AUD/USD is mixed but solid real money interest and ongoing sovereign interest could be a boon for longs particularly if commodity momentum picks up today. FOMC minutes are due later as is Australian employment 00:30GMT (exp 15K.

Tags: ,
February 10, 2012


The pair has broken its ascending trendline channel,first support is 82.82

February 9, 2012


The pair is near ascending channel line and there is a buy opportinity

Tags: ,
February 8, 2012

AUD/JPY seeking a test of 84.50/85.00 – Westpac

Lots of good news is priced into AUD/JPY above 82 but it is hard to make the case for severe retracement near term, says Sean Callow, FX analyst at Westpac Global Markets Strategy Group.

“Our baseline scenario multi-week is a test of 84.50/85.00, with the obvious risks to this view stemming from Europe” Sean notes. “AUD/JPY gains should continue to be heavily reliant on AUD/USD as USD/JPY is likely to remain broadly range-bound. US data flow is unlikely to raise US yields enough to provide the fuel for a sustained break of USD/JPY 78, while the BoJ intervention threat should keep 76 very sticky” Mr. Callow adds.

February 7, 2012


This pair is like the ultimate risk barometer right now: the Aussie has an extremely high beta to overall market risk while the yen is a traditional safe haven. Thus, in periods of risk aversion this pair tends to fall and it tends to rise when risk is “on”. As signs that stabilisation in the Eurozone develop now that the ECB has stepped in to pump the European financial system with liquidity, combined with signs that global growth may have reached its nadir at the end of 2011, then the ground is fertile for this FX cross.

AUDJPY has lagged behind gains in other Aussie crosses in recent months reflecting concerns in the market and the continued unease with the European sovereign crisis fuelling demand for yen. However,after breaking the daily trendline, we are approaching a key resistance level at 82.80, which has capped gains since September 2011. Above here we could see a move back towards the 85.00 highs.