AUD/JPY Price Analysis: Understanding RBA and BOJ's Impact on Inflation
Thursday, 26 September 2024, 04:44
Current Trends in AUD/JPY
The AUD/JPY currency pair has witnessed a significant rise, reaching near 99.60 as of Thursday’s European trading session. This remarkable performance marks the ninth consecutive day of gains, reflecting a strong Australian Dollar (AUD) amid various market influences.
Factors Influencing the Price Movement
- RBA's Monetary Policy: The Reserve Bank of Australia (RBA) continues to play a pivotal role in shaping the economic landscape, amidst persistent inflation concerns.
- BOJ's Influence: The Bank of Japan (BOJ) maintains its stance, impacting cross rates significantly, particularly in the context of inflation adjustments.
- Market Sentiment: Investors are reacting to international economic indicators, weighing the performance of AUD against JPY under the current inflation pressures.
Support and Resistance Levels
- Support: 98.50
- Resistance: 100.00
Be sure to monitor these levels closely as they will dictate future movements for AUD/JPY.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.