empty
04.09.2024 01:01 PM
AUD/JPY. Analysis and Forecast

This image is no longer relevant

For the second consecutive day, the AUD/JPY pair has been declining.

This image is no longer relevant

The decline in the AUD/JPY pair's rate can be attributed to the Japanese yen's strengthening after the release of Jibun Bank Services PMI data. In August, the index was revised downward to 53.7 from the initial estimate of 54.0. Despite this being the seventh consecutive month of growth in the services sector, the latest figure has remained unchanged since July.

Today, Japan's Chief Cabinet Secretary Yoshimasa Hayashi stated that he is closely monitoring developments in both domestic and international markets. He emphasized the importance of conducting fiscal and economic policy in close coordination with the Bank of Japan, while also stressing the need for a calm assessment of market movements, avoiding comments on daily stock fluctuations.

As for the Australian dollar, following the release of Australia's GDP, it was revealed that growth in the second quarter was 0.2% quarter-on-quarter. This is higher than the 0.1% growth of the previous quarter, though it falls short of the expected 0.3%.

Additionally, the Services PMI for China dropped from 52.1 in July to 51.6 in August. This is worth noting due to the close trade relationship between China and Australia. Furthermore, Bank of America has revised its forecast for China's economic growth, lowering its projection for 2024 to 4.8% from the previous 5.0%. The forecast for 2025 was adjusted downward to 4.5%, while the projection for 2026 remains unchanged at 4.5%.

From a technical perspective, the pair's rate is attempting to halt its decline near the key level of 97.00. However, it's too early to talk about a recovery for the pair, as oscillators on the daily chart have not yet entered positive territory.

Irina Yanina,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

EUR/USD: The Southward Trend Stalls, but Long Positions Remain Risky

A mixed situation has developed around the EUR/USD pair. On the one hand, the bearish sentiment prevails: last week, the price reached a 5-month high at 1.0955, while on Tuesday

Irina Manzenko 23:59 2025-03-25 UTC+2

USD/JPY. Analysis and Forecast

The USD/JPY pair is retreating from the psychological level of 151.00, reached earlier on Tuesday, though this pullback is not accompanied by significant selling pressure. The Japanese yen is attracting

Irina Yanina 18:09 2025-03-25 UTC+2

The Market Has Turned Everything Upside Down

Is the worst behind us? As the S&P 500 surged to a three-week high amid easing tariff threats from Donald Trump, banks and investment firms rushed to the bulls' side

Marek Petkovich 08:18 2025-03-25 UTC+2

What to Pay Attention to on March 25? A Breakdown of Fundamental Events for Beginners

Very few macroeconomic events are scheduled for Tuesday, and none are of significant importance. At best, the German business climate report and U.S. new home sales data can be mentioned

Paolo Greco 06:30 2025-03-25 UTC+2

GBP/USD Pair Overview – March 25: The Pound Rises Before It Even Wakes Up

On Monday, the GBP/USD currency pair again showed upward movement. The pound sterling began rising overnight despite no clear reasons or fundamental drivers. Yet the market on Monday clearly demonstrated

Paolo Greco 04:02 2025-03-25 UTC+2

EUR/USD Pair Overview – March 25: The Euro Continues to Creep Downward in a Correction

The EUR/USD currency pair showed relatively low volatility on Monday. However, looking at the chart below, it becomes clear that volatility hasn't been high recently—aside from a few days several

Paolo Greco 04:02 2025-03-25 UTC+2

EUR/USD: PMI Indices and WSJ Insider Reports

On Monday, EUR/USD traders concentrated on factors that benefitted the U.S. dollar, while negatively impacting the euro. Insider reports from U.S. media concerning the "April 2 tariffs" supported the pair's

Irina Manzenko 00:00 2025-03-25 UTC+2

USD/JPY. Analysis and Forecast

At the start of the week, following the release of a weaker Japanese PMI, the yen came under pressure. This, combined with news of narrower and less aggressive retaliatory tariffs

Irina Yanina 13:20 2025-03-24 UTC+2

XAU/USD. Analysis and Forecast

Today, gold prices remain low but are holding above the psychological level of $3000, which serves as an important support. News that emerged over the weekend indicates that U.S. President

Irina Yanina 10:25 2025-03-24 UTC+2

The Market Fell Into a Pit It Dug for Others

What drives the markets? Fear? Greed? At the moment, disappointment is far more significant. Investors are realizing that Donald Trump's tariff policy will not lead to anything good

Marek Petkovich 09:23 2025-03-24 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.