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19 Mar 2015
AUD/JPY: Consolidates the volatility over FOMC
FXStreet (Guatemala) - AUD/JPY is currently trading at 93.33 with a high of 93.47 and a low of 93.03.
AUD/JPY was bid right from the off overnight and taken for a ride on the back of the FOMC when the pair reached the highs before settling back to test the 93.20 support and 93 psychological level.
The FOMC gave a dovish outlook while not ruling out a hike in June although most bets are now weighing over towards the final quarter of the year with downgrades to economic forecasts from the Fed. They will continue to monitor activity towards their targets of 2% inflation and maximum employment in the economy. The price action of the cross warrants a period of consolidation while remaining in a choppy range for March, trading above the pivot with a bullish tone.
AUD/JPY was bid right from the off overnight and taken for a ride on the back of the FOMC when the pair reached the highs before settling back to test the 93.20 support and 93 psychological level.
The FOMC gave a dovish outlook while not ruling out a hike in June although most bets are now weighing over towards the final quarter of the year with downgrades to economic forecasts from the Fed. They will continue to monitor activity towards their targets of 2% inflation and maximum employment in the economy. The price action of the cross warrants a period of consolidation while remaining in a choppy range for March, trading above the pivot with a bullish tone.