24 Februari 2016 1:42 AM
AUD/JPY is recovering from below the mid point of the 80.0 handle after a sell-off from the resistance of the 20 sma on thew hourly chart overnight at 81.42 highs.
The yen has garnered further strength as the week progresses with US stocks offering a poor performace overnight and the price of oil taking another turn to the downside withe recent recovery capped on $33bbls.
"Today we've already seen the Aussie Q4 wage price index, up 2.2% y-o-y, down from 2.3% in Q3, and continuing the trend towards ever-lower wage growth. That's ever-more new normalish, and let's note that one can buy less and less of an Aussie house with a pay rise like that," as noted by analysts at Rabobank earlier. We will now await the Capex data tomorrow as the next catalyst while there has not been much reaction to the same beats from the same drum in Kurodas additional comments in parliament earlier today, explaining however that its not just the Yen that is strengthening, but dollar weakness. The yuan fix was another relatively stable show, 6.5302 vs yesterday's mid point that was set at 6.5273.
AUD/JPY levels
AUD/JPY has been a better offered trade since yesterday's highs at 82.02 in the US shift. The price has drifted convincingly lower and a break of the 80.0 is compelling while trading below the 4hr 20 sma at 80.88 that crosses below the 50 sma at 81.06 in an extension of the death cross of Feb 2015.
(Market News Provided by FXstreet)
