AUD/JPY was little changed in the mid-¥112s, with attention focused today on order book depth and scheduled releases of key indicators.
AUD/JPY closed yesterday at roughly the same level as the previous day. Although yen strength prevailed at times around midday, the pair subsequently moved back toward yen weakness. AUD/USD showed a similar pattern, and AUD/JPY saw little reaction even though the domestic corporate goods price index came in below market expectations. Comments by RBA Assistant Governor Kent also indicated recognition that the effects of the policy rate hike continue. Against this backdrop, technical analysis has been identified as a focus for today.
In today’s analysis for the 14th, the order book showed strong bids around the mid-¥111s and near ¥110, suggesting that the ¥110 area is being watched as support. Meanwhile, offers are concentrated in the upper ¥112s, with heavy offers also reported around ¥114.