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

XAU/USD. Analysis and Forecast

Gold is attracting some sellers for the second day in a row, despite the absence of any clear fundamental catalyst for a decline. Most likely, this is due to trading

Irina Yanina 11:50 2025-04-04 UTC+2

The Growth of the Gold Price Has Stopped. What Is the Reason? (There Is a Possibility of a Local Corrective Pullback in #SPX and Bitcoin)

The global market crash triggered by the announcement of sweeping tariffs personally introduced by the U.S. President continues into Asian trading sessions. While the decline has slowed, there is still

Pati Gani 09:09 2025-04-04 UTC+2

What to Pay Attention to on April 4? A Breakdown of Fundamental Events for Beginners

Only a few macroeconomic events are scheduled for Friday, but they may trigger a new storm. The market has not yet recovered from Wednesday evening's events when Trump imposed trade

Paolo Greco 07:29 2025-04-04 UTC+2

GBP/USD Pair Overview – April 4: Does Anyone Still Care About Nonfarm Payrolls and Unemployment?

The GBP/USD currency pair posted a 300-pip upward move from Wednesday evening through Thursday. Given the current situation, this may not end the dollar's decline. To be honest, the fall

Paolo Greco 06:07 2025-04-04 UTC+2

EUR/USD Pair Overview – 4: Trump's Tariffs Crash the Dollar Once Again

The EUR/USD currency pair gained nearly 300 pips between Wednesday and Thursday. We saw a repeat of the situation in early March when the U.S. dollar fell by 400 pips

Paolo Greco 06:06 2025-04-04 UTC+2

The Dollar Shot Itself in the Foot

Don't create a problem for someone else; you might get caught in it yourself. Donald Trump sought to leverage the United States' leading position in the global economy by announcing

Marek Petkovich 00:50 2025-04-04 UTC+2

EUR/USD. Nonfarm Payrolls and the Greenback

Can strong Nonfarm Payrolls help the dollar? This question is complicated, as the market is currently too shaken by Donald Trump's new tariffs. Traditional fundamental factors have been pushed into

Irina Manzenko 00:46 2025-04-04 UTC+2

USD/JPY – Analysis and Forecast

The Japanese yen is showing strong gains amid broad-based selling of the U.S. dollar, keeping the USD/JPY pair below the key psychological level of 147.00. Investor concerns over the potential

Irina Yanina 18:22 2025-04-03 UTC+2

Markets enter warpath

Donald Trump confidently speaks about America's return to its Golden Age. From his viewpoint, it's time for America to prosper, rather than other countries. However, why does the US president

Marek Petkovich 10:49 2025-04-03 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.