Sean Callow, analyst at Westpac, suggests that there was no real fundamental significance of 3 January “flash crash” for AUD/JPY as it has soon stabilized after that and is generally trading in modest ranges for most of this year, supported by the recovery in global equities. Key Quotes “Indeed AUD has held its ground quite well against JPY given the aggressive move in interest rate markets to price in substantial risk of RBA rate cuts since the early Feb change of RBA policy bias and clear signs of slower growth in the Australian economy.” “RBA rate cut talk should remain the key topic for AUD in coming weeks, though the focus is very much on Jul-Aug as the likely window for the first move and a cut is already fully priced by Sep-Oct.” “With AUD’s commodity price support also driving large trade surpluses, JPY weakness may be the driver of the next sustained move on AUD/JPY. Spec positioning on USD/JPY is helpfully balanced and market talk about looser monetary policy could pick up ahead of the BoJ’s quarterly forecast release at the 24-25 Apr meeting.” “AUD/JPY 80 looks like strong resistance short term but it should be broken, with scope for 81+ in April.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK Attorney General Cox: PM May secured legally-binding changes with EU FX Street 4 years Sean Callow, analyst at Westpac, suggests that there was no real fundamental significance of 3 January "flash crash" for AUD/JPY as it has soon stabilized after that and is generally trading in modest ranges for most of this year, supported by the recovery in global equities. Key Quotes "Indeed AUD has held its ground quite well against JPY given the aggressive move in interest rate markets to price in substantial risk of RBA rate cuts since the early Feb change of RBA policy bias and clear signs of slower growth in the Australian economy." "RBA rate cut talk should remain… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
