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  1. #1
    Specialist Member RCox's Avatar

    Thursday's Australian Employment Change to Drive AUD/JPY !!!

    Thursday's Australian Employment Change to Drive AUD/JPY

    Thursday's Employment report in Australia will likely be one of the big movers on the week, as recent comments from the RBA have left markets in a quandary with respect to future interest rate biases. The number is scheduled for release at 00:30 GMT on 3/14 and I will be looking to trade the AUD/JPY rather than the AUD/USD as the less liquid trading pair is likely to generate larger moves. The consensus analyst survey shows a market expectation of 10,000 new jobs for the month (from 10,400 previously), along with a small drop in the Unemployment Rate to 5.4%.

  2. #2
    Veteran Member Ammeo's Avatar
    Most probably we will see an upward run in AUD/JPY...expectations are bullish.

  3. #3
    Senior Member dorrian's Avatar

    !!!

    This one could give really interesting effect on the Aussie markets! Which direction you will prefer south or north for the aussie? I am too lazy to analyze the numbers by myself

  4. #4
    Specialist Member RCox's Avatar
    Massive upside surprise in the numbers, 71,500 jobs created for the month (substantial for such a small economy), and AUD/JPY prices broke through resistance at 99 after the release. The Unemployment Rate dropped to 5.4% (in line with consensus expectations), overall a very strong release, and supportive for the long term AUD outlook.

    Price action after the number:

    Click image for larger version. 

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  5. #5
    Specialist Member RCox's Avatar
    Next historical resistance in AUD/JPY is seen at 99.60, but with clear psychological levels just ahead at 100, the more prudent move is to wait for a break of both levels and then a profit taking correction before getting bullish again.

    30-min chart:

    Click image for larger version. 

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