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AUDJPY- 200 SMA (H4) Remains Barrier, Can Buyers Break It?

  • Aussie Dollar traded higher against the Japanese Yen, but finding it tough to break the 200 simple moving average (H4).
  • AUDJPY has a couple of bullish trend lines formed on the 4-hours chart, which may play a major role moving ahead.
  • Today, there were several economic releases lined up in Japan, impacting all yen pairs.
  • Japan’s Unemployment Rate which comes from the Ministry of Health, Labour and welfare and published by the Japan Statistics Bureau posted a reading of 3.3% in December 2015.
  • Japan’s National Consumer Price Index is released by the Statistics Bureau posted a decline of 0.3% in December 2015, compared with the same month a year ago.

AUDJPY Technical Analysis

The AUDJPY pair attempted to trade higher during the Asian session, just struggled just below the 200 simple moving average on the 4-hours chart, which may act as a tough barrier for buyers.

AUDJPY

On the downside, there are a couple of bullish trend lines formed on the 4-hours chart, which holds the key for more gains in the short term.

As long as the AUDJPY pair is above the trend lines, it may trade higher else the trend might change moving ahead.

Japan’s Unemployment Rate

Earlier during the Asian session, the Japanese Unemployment Rate came from the Ministry of Health, Labour and welfare and was published by the Japan Statistics Bureau. It is a measure of the percentage of unemployed in Japan and was forecasted to remain stable at 3.3% in December 2015. The report stated that there was no change in the Japanese Unemployment Rate, as it came in at 3.3% in Dec 2015.

Japan’s National Consumer Price Index

Moreover, the National Consumer Price Index, which is a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services was released by the Statistics Bureau. There was an increase of 0.3% in the CPI during the last release, and in this release for December 2015, there was a decline of 0.3% compared with the same month a year ago.

Additionally, the National CPI Ex-Fresh Food was forecasted to increase by 0.1% in December 2015, compared with the same month a year ago. The result matched the forecast, as the National CPI Ex-Fresh Food rose 0.1%.

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