OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/JPY stages solid comeback on stellar Aus jobs

FXStreet (Mumbai) - The Australian dollar rallied more than 1 big figure against its Japanese counterpart this session, with AUD/JPY storming through 89 handle, after the Australian jobless rate unexpectedly ticked lower in Nov.

AUD/JPY spikes on jobs data

Currently, the AUD/JPY pair rises 1.38% to 89, quickly retreating from fresh session highs reached at 89.14 post-data release. The AUD bulls fought back control and charged its way higher against the yen after stellar Aus jobs data, which revealed that the unemployment rate fell to the lowest since May 2014 and registered second drop in a row, thus, fading calls for further action from RBA.

The economy added a net 71,400 jobs in November, driving the jobless rate down from 5.9% in October to 5.8% last month, beating expectations of a rise to 6% in Nov.

AUD/JPY also remained indifferent to the persisting risk-off market profile and bounced higher, completely ignoring the renewed bout buying interest seen in the yen on falling Asian equities. Meanwhile, markets will digest the stronger OZ jobs data ahead of the US weekly jobless data.

-------
What will 2016 bring to the Forex traders? Attend our Forex Forecast 2016 - The Panel with Ashraf Laidi, Valeria Bednarik, Boris Schlossberg, Adam Button, Ivan Delgado and Dale Pinkert. Register for the live event on Dec. 18th and get the recording too.
-------



AUD/JPY Technical Levels

To the upside, the next resistance is located at 89.55 (10-SMA) and above which it could extend gains to 90.24 (200-DMA). To the downside immediate support might be located 88.31 (Nov 26 low) below that at 88 (Nov 30 low).

NZD/USD stages powerful rally

NZD/USD stages powerful rally
Read more Previous

AUD/NZD: a game of two halves on RBNZ and jobs data

AUD/NZD has been a game of two halves . First, the RBNZ cut interest rates as expected by 25 bps, but offered a mixed outlook in that they want the bird lower, they are confident they will reach their inflation target, will stay firm on rates, but are ready to cut rates if appropriate.
Read more Next
Start livechat