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AUD to YEN Exchange Rate

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When converting Australian dollars (AUD) to YEN, or YEN to AUD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives AUD and YEN currency conversion rates.

AUD to YEN Overview: Since the middle of last century, Australia and Japan have had a constantly growing economic and cultural relationship. As Australia's trade focus on the other Commonwealth countries dwindled during the 1950's and 60's, it turned its ties to Asia, and Japan in particular. By the mid 1960's Japan was the largest export destination for Australian products and that strong relationship remains in place right through until current times. By the nature of the Australian dollar being a barometer for global growth, and the YEN being a safe haven currency in uncertain times, the pairs moves are accentuated in uncertain times. Since the global financial crisis (GFC) in 2008, the pair has spent most of the time bounding within the 72.00 - 88.00 range, which is some 18% wide.
 
Historical Ranges: 1 year  5 years 10 years 
AUD/YEN 75.95 - 89.13 72.37 - 105.41 55.08 - 107.82

Current Official Cash Rates:
Reserve Bank of Australia (RBA): 1.50%        Bank of Japan (BOJ): -0.10%

AUD YEN Weekly Updates:                                                                              Back to FX Updates
Friday 22nd September 4:00pm(NZT)
The AUD has drifted lower, down from 89.20 against the JPY most of the week, now at 88.57 it has halted the decline but with the Nth Korean tensions continuing the JPY still enjoys safe-haven flows...should hold around current levels to end the week, but more AUD downside is favoured next week.
The current interbank midrate is:    AUDJPY 88.56

The interbank range this week has been:    AUDJPY 88.06 - 90.30
Friday 15th September 4:00pm(NZT)
After a high for the week yesterday at 88.72 the AUD is now lower at 88.03 on stronger flows to the JPY after this morning's NK missile launch...Aussie data this week has been supportive and should remain so next week after risk-averse sentiment declines.
The current interbank midrate is:    AUDJPY 88.05

The interbank range this week has been:    AUDJPY 86.69 - 88.74
Tuesday 12th September 4:00pm(NZT)

The AUD topped out at 87.88 on Friday on this cross. It  is now back at 87.50  after the reduction in risk sentiment has weakened the JPY ...expect flat trading ahead of Aussie jobs data on Thursday or any increase in risk aversion.

  Current Level Support Resistance Last week's range
AUD/YEN 87.57 85.40 87.50 86.58 - 87.89

Friday 8th September 4:00pm(NZT)
The AUD has rallied on this cross, now back at 87.55 with next stop at 87.90 then 88.70 but JPY is favoured due to geopolitical risks...immediate support is at 85.70
The current interbank midrate is:    AUDJPY 87.52

The interbank range this week has been:    AUDJPY 86.58 - 87.60
Tuesday 5th September 4:00pm(NZT)

The AUD continues to drift lower as the JPY is bolstered by risk-off sentiment, now at 86.90 and may push back over 87.00 towards 87.30/40 on good data , but ultimately Korean fears are currently driving JPY safe-haven values

  Current Level Support Resistance Last week's range
AUD/YEN 86.97 85.40 87.50 86.16 - 87.80

Friday 1st September 4:00pm(NZT)
The AUD has had a better  last few days having made an 87.79 high 4 days ago , is now easier at 87.45 and direction is uncertain, latest JPY economic data has been softer but safe-haven status overhangs this cross, should hold around current levels into first few days of next week.
The current interbank midrate is:    AUDJPY 87.47

The interbank range this week has been:    AUDJPY 85.72 - 87.80
Tuesday 29th August 4:30pm(NZT)

The AUD is weaker on this cross now at 86.20 but within the previous range….the renewed risk-off tone puts the AUD under pressure against the JPY and 85.40 support looks vulnerable, if broken look for an extension to the 84.90 level.

  Current Level Support Resistance Last week's range
AUD/YEN 86.21 85.40 87.50 85.72 - 87.10

Friday 25th August 3:30pm(NZT)
Continues to trade in a narrow range on this cross, now at 86.60 with little clear direction, we expect the current 87.50-85.40 range to hold out into next week when we get more data.
The current interbank midrate is:    AUDJPY 86.58

The interbank range this week has been:    AUDJPY 85.94 - 87.02
Tuesday 22nd August 3:30pm(NZT)

The AUD has traded sideways on this cross, now at 86.75 after the softer JPY overnight as the risk-averse tone weakens...we still favour the JPY on this cross especially as more recent  Japanese data has been better...should hold above 86.10/20 for the next couple of days.

  Current Level Support Resistance Last week's range
AUD/YEN 86.73 85.40 87.50 86.00 - 87.54

Friday 18th August 3:30pm(NZT)
Like its kiwi counterpart, the AUD has been knocked by the JPY risk-off boost, now at 86.35 after a high earlier in the week at 87.54...should hold around current levels but if risk -off tone prevails next week look for more AUD weakness on this cross.
The current interbank midrate is:    AUDJPY 86.39

The interbank range this week has been:    AUDJPY 85.46 - 87.54
Tuesday 15th August 3:30pm(NZT)

The AUD is back up on this cross at 86.70 as the risk tone reduces, also helping is better Japanese economic data ...should hold at current levels over the next few days support is down at 85.40..

  Current Level Support Resistance Last week's range
AUD/YEN 86.72 85.00 86.80 85.46 - 87.77

Friday 11th August 3:00pm(NZT)
The AUD is sharply lower on the JPY now at 85.84 from the 88.00 seen earlier in the week. Further declines are likely to test 85.00...
The current interbank midrate is:    AUDJPY 85.53

The interbank range this week has been:    AUDJPY 85.51 - 88.02
Tuesday 8th August 4:00pm(NZT)

The AUD is around 87.60 trading in a sideways pattern, this cross is all about JPY strength against the USD and we look for the AUD to move lower against the JPY over the course of the week...86.80 beckons.

  Current Level Support Resistance Last week's range
AUD/YEN 87.54 86.80 87.90 87.37 - 88.54

Friday 4th August 3:00pm(NZT)
The AUD has broken the key reversal level of 87.90 and is now down at 87.62 on this cross and given the more settled political situation in Japan post the reshuffle by PM Abe, look for a test of 86.80 next week...
The current interbank midrate is:    AUDJPY 87.61

The interbank range this week has been:    AUDJPY 87.37 - 88.82
Friday 28th July 1:00pm(NZT)
It’s been a volatile week for this pairing. The Australian dollar surged to recent highs against the Japanese Yen yesterday, driven by broad based USD weakness, in a continuation of the strong rally we have seen since early June. That rally remains well intact for the time being and only a break below trend support, now seen at 87.90, would bring that into question. Until then further gains are likely. That being said, there are signs that momentum is starting to wane and any break below that 87.90 support would likely confirm the rally is over and encourage further selling. Markets don’t go one way forever, and this rally is starting to get a little ‘long in the tooth’. So while we need to see a definite sign of weakness before we can say the rally is over, I certainly wouldn't be recommending selling JPY and buy AUD at these levels.
The current interbank midrate is:    AUDJPY 88.63

The interbank range this week has been:    AUDJPY 87.66 - 89.42
Tuesday 25th July 1:00pm(NZT)

Although the Australian dollar has had a significant pull back from recent highs against the Japanese Yen, it has yet to even test key trend line support currently around 87.40. It would take a break below that level to signal the broader uptrend has come to an end. The pair made fresh cycle highs at 89.28 last week, before correcting low to now trade around 88.00. It has been as low as 87.64, but while key support at 87.40 contains any period of weakness, the focus remains on the topside and potential further gains. Key to near term direction however is likely to be tomorrow’s release of Australian inflation data which will be closely watched.

  Current Level Support Resistance Last week's range
AUD/YEN 88.16 87.40 89.30 0.9875 - 1.0056

Friday 21th July 1:00pm(NZT)
The Australian dollar has seen solid gains against the Japanese Yen this week, in a continuation of the strong rally that started back in early June. The pair managed to break above resistance at 88.20 and that’s opened the way for further gains. The high so far has been 89.28 and there are no signs this rally is done yet. Major trend support now comes in around 87.20 and there will no doubt be plenty of buyers if we happen to get a pull back toward that level. As long as the market holds above that trend support, the focus remains on the topside.
The current interbank midrate is:    AUDJPY 88.91

The interbank range this week has been:    AUDJPY 87.50 - 89.28
Tuesday 18th July 1:00pm(NZT)

The Australian dollar has been in a strong uptrend against the Japanese Yen since the beginning of June. That trend continued this week as the AUD outperformed most other currencies. The pair surged to cycle highs of 88.22 last night. That 88.20 area is however key resistance marking the high made back in early February. It should provide a tough barrier for further gains now as well. Today RBA minutes may well be the deciding factor in determining whether the pair can break above that level. Later in the week we also have Australian employment data and the Bank of Japan meeting to digest.

  Current Level Support Resistance Last week's range
AUD/YEN 87.70 86.60 88.20 86.66 - 88.22
 
Tuesday 11th July 1:00pm(NZT)

Japanese Yen weakness has been the dominant driver of this pair over recent weeks as prices have been trending higher. Resistance around 87.50 is now in sight and it would take a move below support at 85.80 to suggest the uptrend has run its course. Until then, look for further tests higher.

  Current Level Support Resistance Last week's range
AUD/YEN 86.77 85.80 87.50 85.67 - 86.93

Friday 7th July 4:30pm(NZT)
Has drifted lower from the earlier in the week 86.97 high, now around 86.15 next support is around 84.90, but should hold above 86.00 heading into next week.
The current interbank midrate is:    AUDJPY 86.21

The interbank range this week has been:    AUDJPY 85.67 - 86.93
Tuesday 4th July 4:30pm(NZT)

Has made a 3 ½ month high at 86.97 earlier today , is now at 86.88 and providing no RBA upset a move over 87.00 looks likely ...immediate resistance is at 87.10

  Current Level Support Resistance Last week's range
AUD/YEN 86.88 85.60 87.10 84.86 - 86.93

Friday 30th June 3:30pm(NZT)
Now around 86.12 after 84.10 early in the week, AUD fundamentals now look better against the JPY and we expect the AUD to push back over 86.50 next week.
The current interbank midrate is:    AUDJPY 86.08

The interbank range this week has been:    AUDJPY 84.01 - 86.54
Tuesday 27th June 4:00pm(NZT)

Sitting around 84.98 the AUD has made good gains over the last two days after a low of 83.71 last week...next stop is 85.10 then 85.60/70.

  Current Level Support Resistance Last week's range
AUD/YEN 84.95 84.00 85.75 83.73 - 85.08

Tuesday 20th June 3:30pm(NZT)

Now at 84.75 after a month high overnight at 84.90, the AUD looks solid on this cross and looks on target to retest resistance at  85.75 last seen in March

  Current Level Support Resistance Last week's range
AUD/YEN 84.76 83.00 85.75 82.86 - 84.88

Friday 16th June 8:45pm(NZT)
Back at a month's high at 84.42 for the AUD and looks set to push on to 85.06 early next week as the AUD settles into these higher levels ...
The current interbank midrate is:    AUDJPY 84.36

The interbank range this week has been:    AUDJPY 82.60 - 84.49
Tuesday 13th June 4:00pm(NZT)

The AUD is holding firm on this cross, now at 83.15 back a little from the 83.38 high seen last week….another push towards 83.40 cannot be discounted later in the week.

  Current Level Support Resistance Last week's range
AUD/YEN 83.10 82.00 83.40 81.81 - 83.39

Thursday 8th June 4:00pm(NZT)
The AUD has strengthened on the more risk-on tone , now around 82.88 , immediate resistance is next  at 83.40 achievable over the next few days if the risk tone remains unchanged…
The current interbank midrate is:    AUDJPY 82.86

The interbank range this week has been:    AUDJPY 81.79 - 82.99
Tuesday 6th June 4:00pm(NZT)

Has good support at 81.90 and currently trading around 81.98 , expect little change ahead of RBA later today , but Aussie GDP tomorrow could provide a catalyst to trade sub 81.50 support level.

  Current Level Support Resistance Last week's range
AUD/YEN 81.99 81.50 82.45 81.81 - 82.95

Friday 2nd June 4:45pm(NZT)
The AUD has made hard work on this cross, gradually drifting lower this week currently around 82.45 but we look for 82.00 to be tested next week.
The current interbank midrate is:    AUDJPY 82.42

The interbank range this week has been:    AUDJPY 81.91 - 82.98
Tuesday 30th May 4:15pm(NZT)

Sitting around 82.38 after a high last week of 83.87 , initial support is at 81.75 but looks to be in consolidation mode at the moment, a move back into the 82.00 region is favoured over the next day or two.

  Current Level Support Resistance Last week's range
AUD/YEN 82.34 81.75 84.00 82.25 - 83.87

Tuesday 23rd May 4:15pm(NZT)

The AUD is back at 83.30 as the risk-on climate weakens the JPY, next resistance level is at 84.00 but we expect the AUD to consolidate at current levels before attacking this level, immediate support at 82.32 should hold over the next few days.

  Current Level Support Resistance Last week's range
AUD/YEN 83.22 82.32 84.00 81.81 - 84.40

Friday 19th May 4:15pm(NZT)
Managed to hit 84.50 but has been knocked lower to 81.76 as JPY safe-haven re-asserted on the US political turmoil...now at 82.51, but AUD tone looks soft and we favour another test of 81.75 next week which could extend to 81.50 if more safe-haven flows occur.
The current interbank midrate is:    AUDJPY 82.68

The interbank range this week has been:    AUDJPY 81.81 - 84.51
Tuesday 16th May 4:15pm(NZT)

Started the week higher at 84.15 for the AUD, 83.61 should provide support and if gains are held above 84.00 a push to 84.50 looks possible in the next day or so.

  Current Level Support Resistance Last week's range
AUD/YEN 84.06 82.70 84.50 83.21 - 84.51

Friday 12th May 4:15pm(NZT)
Sideways trading, now at 83.82 and looking for breakout direction next week , AUD downside is still favoured...82.70 beckons..
The current interbank midrate is:    AUDJPY 83.85

The interbank range this week has been:    AUDJPY 82.68 - 84.34
Tuesday 9th May 8:15pm(NZT)

AUD continues to weaken on this cross, now at 83.35 after a high of 84.50 last week, is trading in a narrow range looking for direction. The downside is favoured on this cross.

  Current Level Support Resistance Last week's range
AUD/YEN 83.30 82.70 84.50 82.68 - 84.54

Friday 5th May 3:45pm(NZT)
Trended lower over the week from 84.52 to current levels around 83.20, given continued commodity softness we see AUD weakness continuing next week.
The current interbank midrate is:    AUDJPY 83.09

The interbank range this week has been:    AUDJPY 82.99 - 84.54
Tuesday 2nd May 7:15pm(NZT)

The AUD has been as low as 82.72 over the week , is now back around 84.32 and looks solid for a push to the 85.00 mark...may need the US data out of the way before an attempt is made...look for consolidation slightly above current levels..

  Current Level Support Resistance Last week's range
AUD/YEN 84.37 82.70 85.00 82.74 - 84.51

Friday 21st April 11:40am(NZT)
The Australian dollar has made significant ground against the Canadian dollar this week. The CAD has suffered at the hands of declining oil prices and that helped drive the pair up to its 1.0171 high. We would now look for some consolidation between 1.0050 and 1.0170 before the pair can attempt another crack higher. Inflation data from Australia next week could be key. The market will also focus on Canadian retail sales and GDP figures.
The current interbank midrate is:    AUDJPY 82.25

The interbank range this week has been:    AUDJPY 81.49 - 82.95
Tuesday 18th April 7:15pm(NZT)
The Australian dollar lost ground to the Japanese Yen for much of last week, trading to a low of 81.85. We did see the pair recover sharply from that low thanks to a strong Australian employment number, but the broader downtrend is still dominant. It would take a move above resistance around 83.50 to suggest the balance of risks has shifted. Until then look for further tests of support.
  Current Level Support Resistance Last week's range
AUD/YEN 82.35 81.80 84.00 81.88 - 83.14

Tuesday 11th April 4:15pm(NZT)
Now at 83.15 after a low of 82.78 on Friday, with geopolitical risks favouring the JPY another downward towards 82.90 support looks likely.
  Current Level Support Resistance Last week's range
AUD/YEN 82.97 82.90 84.00 82.80 - 84.39

Friday 7th April 5:50pm(NZT)
The flows into the Japanese Yen have knocked the Australian dollar on this cross. Now at 83.10 with immediate support at 82.90 looking be tested before the end of today. Next stop 82.15/20, looks possible next week.
The current interbank midrate is:    AUDJPY 83.23

The interbank range this week has been:    AUDJPY 82.80 - 85.70
Tuesday 4th April 7:15pm(NZT)
Choppy trading, now at 84.10 after an 85.75 high on Friday as market sentiment has become more risk adverse thereby boosting JPY value. Immediate support at 83.91 should be tested over the next 12 hours, especially if the RBA disappoints.
  Current Level Support Resistance Last week's range
AUD/YEN 84.02 83.75 85.00 83.83 - 85.74

Friday 31st March 2:00pm(NZT)
The Australian dollar finally found some support against the Yen mid this week, just ahead of 83.80, after declining steadily from around 87.00 just two weeks ago. Since then the pair has recovered to just over 85.50, but this area is the first level of resistance and if the gains stall here, the risks will swing back to the downside. Next week from Australia we have retails sales, the trade balance and the RBA rate meeting to digest. While from Japan we have the Tankan survey of manufacturing and non-manufacturing sectors to digest.
The current interbank midrate is:    AUDJPY 85.50

The interbank range this week has been:    AUDJPY 83.83 - 85.59
Tuesday 28th March 4:15pm(NZT)
The AUD is back at 84.40 after a low of 83.90 overnight. It should consolidate at current levels over the next day or so, but look for further AUD weakness to 83.15/20.
  Current Level Support Resistance Last week's range
AUD/YEN 84.38 83.75 85.00 83.92 - 87.11

Friday 24th March 4:00pm(NZT)
The generally stronger Japanese Yen has squeezed the New Zealand dollar lower from 79.57 3 days ago to its current 77.98. Given projections for continued JPY strength expect a test of 77.50 support early next week.
The current interbank midrate is:    NZDJPY 78.24

The interbank range this week has been:    NZDJPY 77.84 - 79.58
Tuesday 21st March 4:15pm(NZT)
The Australian dollar has drifted marginally lower on against the Yen. It is now around 86.88 after Friday’s high of 87.20. There is no clear trend but given the JPY strength against the USD we continue to look for a test of at 86.00 over the week ahead.  
  Current Level Support Resistance Last week's range
AUD/YEN 86.88 86.00 87.45 86.57 - 87.49

Friday 17th March 4:00pm(NZT)
The Australian dollar has been dominate for most of the week on this cross moving from a low of 86.48 to 87.46. It is now back at 86.95 on the firmer JPY overnight. Given the stronger JPY look for a move towards 86.00 next week.
The current interbank midrate is:    AUDJPY

The interbank range this week has been:    AUDJPY 86.43 - 87.49
Tuesday 14th March 3:45pm(NZT)
Now around 86.75 the tone has changed to more Australian dollar positive. There is still no clear trend but the BoJ rate meeting on Thursday may help in pointing the way. Until then trading should be contained in the 85.85-87.45  range.
  Current Level Support Resistance Last week's range
AUD/YEN 86.78 86.00 87.45 85.87 - 87.05

Friday 10th March 4:00pm(NZT)
Still maintaining sideways pattern with no clear trend. Started the week around 86.40 and is currently 86.68 , the tone is now mildly AUD negative, but next week should hopefully provide clear direction.
The current interbank midrate is:    AUDJPY 86.65

The interbank range this week has been:    AUDJPY 85.87 - 86.88
Tuesday 7th March 3:45pm(NZT)
The Australian dollar maintains its sideways trading against the Yen. The weekly range has been 87.46-86.18 with current level around 86.60. No clear direction but mild AUD positive remains. RBA today could see an AUD bounce. USD strength will continue to pressure both these currencies and whichever holds on better will dominate this cross. We favour the JPY.
  Current Level Support Resistance Last week's range
AUD/YEN 86.52 85.80 87.45 85.86 - 87.48

Friday 3rd March 4:15pm(NZT)
The Australian dollar now in a sideways pattern, currently at 86.30 and we expect consolidation at these levels heading into next week, momentum is still AUD positive but more subdued, look for a move back to the 87.00 region early next week but  USD strength will pressure both  these currencies and whichever holds on better will dominate this cross...we favour the JPY.
The current interbank midrate is:    AUDJPY 86.26

The interbank range this week has been:    AUDJPY 85.85 - 87.48
Tuesday 28th February 7:45pm(NZT)
The Australian dollar had sharp drop after the Aussie Capex data dropping from 87.07 to 85.88 in the course of a day. It is now trading back at 86.55 but the AUD looks softer on this cross. 87.45 is now a long way off and immediate support at 85.80/85 now looks likely to be tested again over the next few days.
  Current Level Support Resistance Last week's range
AUD/YEN 86.53 85.80 87.20 85.85 - 87.36

Friday 24th February 2:45pm(NZT)
The Australian dollar has traded in a relatively tame against the Japanese Yen this week of 86.31 to 87.46. Early weakness was gradually reversed as the pair ground higher into the middle of the week. Yesterday’s soft Australian Capex data put a cap on those gains however and there has been little direction since. I would look for the 87.45 area to continue to limit the topside as we head into next week.
The current interbank midrate is:    AUDJPY 86.94

The interbank range this week has been:    AUDJPY 86.31 - 87.45
Tuesday 21st February 6:45pm(NZT)
The Australian dollar is up and down on this cross coming off a 87.44 high to low of 86.28 over the last 4 days, is now back at 87.15 but no clear trend , partly to blame on directionless JPY trading ...we still favour the AUD on this cross and look for a move to 88.00 later in the week.
  Current Level Support Resistance Last week's range
AUD/YEN 87.16 86.30 88.00 86.31 - 88.17

Friday 17th February 4:30pm(NZT)
The Australian dollar still moving higher against the JPY making a 88.16 high this week, is currently at 87.38 after an overnight pullback but is still higher than the 86.81 low seen 3 days ago. AUD remains in the uptrend on this cross and we look for a move back over 87.50 targeting 88.00 early next week.
The current interbank midrate is:    AUDJPY 87.30

The interbank range this week has been:    AUDJPY 86.69 - 88.17
Tuesday 14th February 4:45pm(NZT)
The Australian dollar continues its bounce on the JPY now at 87.20, up from 85.34 seen 4 days ago, although the JPY made up some losses on the back of the better Japan/US summit meeting, these gains appear limited and we look for a target of 87.50 over the next few days.
  Current Level Support Resistance Last week's range
AUD/YEN 87.22 87.00 87.50 85.40 - 87.13

Friday 10th February 6:30pm(NZT)
The Australian dollar ends the week higher against the JPY at 86.85 up from the week's low at 85.20. We look for further consolidation at these higher levels before a push to the 87.50 zone.
The current interbank midrate is:    AUDJPY 86.93

The interbank range this week has been:    AUDJPY 85.26 - 86.95
Tuesday 7th February 4:45pm(NZT)
The Australian dollar continues to trend higher against the Japanese Yen. Currently at 85.58, meeting some resistance from the stronger JPY due to safe haven flows, resistance at 85.80 with support around  85.20 then 85.00. We expect consolidation at current levels with 86.00 a hard level to crack given current JPY support over the next few days.
  Current Level Support Resistance Last week's range
AUD/YEN 85.54 85.20 86.00 85.20 - 86.72

Friday 3rd February 4:30pm(NZT)
Uptrend channel is being maintained on this cross with the stronger Aussie over the last two days overpowering the safe-haven JPY, now at 86.12 after a 86.84-85.18 range this week, we look for a test of previous two weeks highs at 87.07 next week.
The current interbank midrate is:    AUDJPY 86.14

The interbank range this week has been:    AUDJPY 85.22 - 87.07
Tuesday 31st January 4:45pm(NZT)
Choppy trading but within an overall uptrend channel, currently trading around 85.92 towards the bottom of the channel, immediate support is at 85.71 , unless any major by the BoJ tomorrow we expect this cross to continue to gradually trend higher...an Australian downgrade would negate this view., a break of 85.25 would target 84.90 but unlikely until next week .
  Current Level Support Resistance Last week's range
AUD/YEN 85.97 84.90 87.60 85.40 - 87.07

Friday 27th January 3:30pm(NZT)
Sitting close middle of the weeks range at 86.28 and should close the week around these levels, a break of 85.25 would target 84.90 but unlikely until next week.
The current interbank midrate is:    AUDJPY 86.58

The interbank range this week has been:    AUDJPY 85.34 - 86.95
Tuesday 24th January 6:15pm(NZT)
Currently around 85.77 after an 86.52- 85.33 overnight range, with the 86.00 level broken and the JPY remaining well bid, a move to the 85.00 region is now on the cards especially given the 85.50 level has given way over the last 24 hrs. The Australian dollar has performed better during the day but on balance we look for further AUD weakness on this cross.
  Current Level Support Resistance Last week's range
AUD/YEN 85.52 85.00 86.00 85.03 - 87.06

Tuesday 17th January 2:15pm(NZT)
The Australian dollar continues to trade in a sideways pattern against the Japanese yen within a broad 84.90-86.20 band. A small range was seen overnight between 85.00-85.70 and it opens at 85.31. If the Aussie jobs data is solid we expect the AUD to be resilient on this cross and head back to the top of the band around 86.00/86.20. If a break of 86.20 is sustained next stop would be 87.20 last seen mid-December.
  Current Level Support Resistance Last week's range
AUD/YEN 85.27 84.95 86.00 85.06 - 86.26

Tuesday 10th January 4:00pm(NZT)
The Australian dollar is holding steady against the JPY with a range of 85.91-85.28 overnight. It’s currently trading at 85.25 and looking for clearer direction. Any negative risk sentiment will favour the JPY, but in the absence of this the AUD looks to be well supported on this cross.
  Current Level Support Resistance Last week's range
AUD/YEN 85.25 84.95 86.00 84.45 - 85.91

Friday 23rd December 3:45am(NZT)
The Australian dollar is trading largely unchanged in trade against the Japanese Yen since our report on Tuesday. There has been little to go on during the week for the cross given the quiet week for leads from Japan and Australia. Look for any shifts in risk sentiment and liquidity moves to be the primary driver of moves over the holiday period. Momentum at the moment is mixed-negative. Support is eyed at 83.50 and 82.50. First resistance is noted around 85.75.
The current interbank midrate is:    AUDJPY 84.68

The interbank range this week has been:    AUDJPY 84.63 - 87.07
Tuesday 20th December 1:30pm(NZT)
The Australian dollar has fallen heavily against the Japanese Yen in trade since Friday. The sharp move reflects the continued fall in the AUD and reversal in fortunes for the JPY which has clawed back some of its recent large falls against the US dollar. ‘Safety’ demand for the Yen and extended long USD positioning has helped the yen’s recent rally. A more cautious stance towards the risk currencies and falls in key $AUD sensitive commodity prices has weighed on the AUD. Look to the RBA and BoJ for direction today although expect sentiment and positioning to be a key driver in the days/weeks ahead. We favour buying the JPY on rallies in this cross.
  Current Level Support Resistance Last week's range
AUD/YEN 84.89 83.50 85.80 84.66 - 87.51

Friday 16th December 11:45am(NZT)
The Australian dollar has extended its gains in trade against the Japanese Yen since our commentary on Tuesday. The move reflects the continued relative outperformance of the AUD after the JPY extended its heavy losses against the greenback in trade yesterday after the US FOMC meeting. Better than expected Australian employment data looks to have had only a minimal impact. Momentum remains positive for the cross at present, although we continue to have reservations about the likelihood of further strong gains given the large recent run. Focus for next week is on Tuesday where the BoJ and RBA will both be in focus.
The current interbank midrate is:    AUDJPY 86.91

The interbank range this week has been:    AUDJPY 84.95 - 87.51
Tuesday 13th December 2:30pm(NZT)
The Australian dollar has continued to build on its recent positive momentum in trade against the Japanese Yen since our report on Friday. The move reflects the gains in the AUD and further falls in the Yen against the US dollar since Friday. Sentiment towards the Yen remains very negative at present, although recent speculative positioning against the Yen has increased sharply. Australian employment data (Thursday) and the earlier US Fed meeting are the key events to watch this week. We are cautious on further gains from here given the recent extended move and the lift to the targeted resistance zone (86.60 highs overnight).
  Current Level Support Resistance Last week's range
AUD/YEN 86.16 83.80 86.75 84.61 - 86.60

Friday 9th December 11:15am(NZT)
It has been a relatively quiet week for trade in the Australian dollar against the Japanese Yen this week. Small gains which have been seen since Tuesday’s report reflect the continued weakness in the JPY and largely contained trade in the AUD against the greenback. Momentum supports further gains in the cross next week although large shifts in the USD/JPY can be commonplace. Australian employment data on Thursday is the key scheduled event. The logical target for this move is the broad resistance zone in the 86.40/75 area.
The current interbank midrate is:    AUDJPY 85.02

The interbank range this week has been:    AUDJPY 83.80 - 85.53
Tuesday 6th December 2:30pm(NZT)
The Australian dollar has strengthened further in trade against the Japanese Yen since our report on Thursday. The move reflects the relative outperformance of the AUD over the JPY given the recent retracement in the overall level of the greenback. Highs around 85.55 are the first level of interest on the topside, although the strong resistance zone to watch is between 86.40 and 86.75. Momentum is positive at present although key risks come in the next 24 hours from the RBA (today) and Australian GDP (tomorrow).
  Current Level Support Resistance Last week's range
AUD/YEN 84.89 83.80 86.75 83.62 - 85.53

Thursday 1st December 2:00pm(NZT)
The Australian dollar has moved higher in trade against the Japanese Yen since our commentary on Tuesday. The cross is only one to have gained of the AUD pairs covered, a move which reflects the continued recent weakness in the Yen since the Trump US election win. Resistance is nearby at 84.60/70 a breach of which brings the broad 86.30/70 zone into view in time. Look for direction to come mainly via moves in the USD/JPY although today’s Australian CAPEX data could be interesting given the current focus on the Australian building/housing sector.
The current interbank midrate is:    AUDJPY 84.48

The interbank range this week has been:    AUDJPY 82.94 - 84.60
Tuesday 29th November 3:30pm(NZT)
The Australian dollar has eased against the Japanese Yen since our commentary on Friday. The move reflects the recent (relatively minor) recovery in trade this week of the Yen against the US dollar. Moves in the USD/JPY exchange rate and appetite for the commodity currencies in the wake of the OPEC meeting outcome look likely to drive trade in the cross this week. We are unsure of the next move from here, although momentum over the last two months has been AUD positive.
  Current Level Support Resistance Last week's range
AUD/YEN 83.79 82.60 84.70 81.53 - 84.60

Friday 25th November 2:30pm(NZT)
The Australian dollar has continued to rally strongly in trade against the Japanese Yen since our commentary on Tuesday. The move reflects the recovery in the AUD/USD exchange rate (reduced transaction selling and commodity price support) and continued terrible performance of the Yen (since the US election). Resistance to this move is seen much higher in the 86.35/86.70 zone, although in reality a shift will likely occur when sentiment for the Yen begins to recover. First support for buyers is seen at 83.50 and then 82.50/60.
The current interbank midrate is:    AUDJPY 84.08

The interbank range this week has been:    AUDJPY 81.11 - 84.03
Tuesday 22nd November 2:30pm(NZT)
The Australian dollar is trading largely unchanged in trade against the Japanese Yen since our commentary on Friday. There has been no fresh news to report since Friday which has meant the cross has failed to add to its recent gains (which have been based around the large losses by the Yen against the US dollar).  Momentum continues to favour the upside at present with initial buy targets being ahead of 81.10 and then around 80.25.
  Current Level Support Resistance Last week's range
AUD/YEN 81.60 81.10 82.55 81.11 - 82.60

Friday 18th November 2:30pm(NZT)
The Australian dollar has eased slightly in trade against the Japanese Yen since Tuesday. Both currencies have been heavily targeted this week as investors continued to buy the US dollar which has risen to 13.5 year highs. Momentum looks to mildly favour the AUD at present, although the 82.50/55 weekly highs would need to be cleared to open additional upside. First support is seen around 81.10 (weak) and then 80.25. Local data looks unlikely to play a role in trade on this cross next week.
The current interbank midrate is:    AUDJPY 81.68

The interbank range this week has been:    AUDJPY 80.23 - 82.60
Tuesday 15th November 2:00pm(NZT)
The Australian dollar has continued to rally in trade against the Japanese Yen since our commentary on Thursday. The move reflects the continued weakness in the Yen in recent trade which has suffered greatly at the expense of last week’s Trump US election win and subsequent stronger greenback and rising equity markets (exit from safety currencies like the JPY). Momentum for this cross remains positive. Events to watch include today’s RBA minutes and Australian employment on Thursday.
  Current Level Support Resistance Last week's range
AUD/YEN 81.90 80.25 82.50 76.80 - 82.44

Friday 11th November 2:30pm(NZT)
The Australian dollar has rallied against the Japanese Yen in trade this week. Volatility has been extreme in the wake of the US presidential win by Donald Trump. A flight to safety which was seen on Wednesday as the results became known saw the cross slump to lows around 77.00. The subsequent slump in the Yen and rallying AUD in the wake of a return in market confidence saw the cross move to highs around 82.45 in trade overnight. Expect further more measured volatility next week. We have a moderate upside bias although prefer targeting lower levels for entry. (towards 79.50).
The current interbank midrate is:    AUDJPY 80.91

The interbank range this week has been:    AUDJPY 76.80 - 82.44
Tuesday 8th November 2:30pm(NZT)
The Australian dollar has rallied strongly in trade against the Japanese Yen since our last commentary on Thursday. The move reflects the strong ‘risk’ buying (AUD+) and flow out of the JPY (which is seen as a safe haven) as traders bet on a Clinton victory in the US election tomorrow. This theme will dictate trade in this cross this week, especially over the next 36 hours as votes are cast and counted. We have little view on the uncertain outcome, although polling for now marginally points to a Clinton victory.
  Current Level Support Resistance Last week's range
AUD/YEN 80.59 78.50 81.60 78.53 - 80.79

Thursday 3rd November 3:00pm(NZT)
The Australian dollar has eased in trade against the Japanese Yen since our commentary on Tuesday. The move reflects the solid gains by the Yen against the USD in trade this week which has outperformed the only modest lift in the AUD. Highs around 80.60 were seen after the RBA on Tuesday fell short of stronger resistance at 81.50/60. Immediate support is seen at 79.00 and 78.70. Look to further moves in the Yen for direction especially should safe haven flow increase in the lead up to next week’s US presidential election. Tomorrow’s RBA MPS may also interest.
The current interbank midrate is:    AUDJPY 79.11

The interbank range this week has been:    AUDJPY 79.01 - 80.63
Tuesday 1st November 1:30pm(NZT)
The Australian dollar has rallied in trade against the Japanese Yen since our commentary on Friday, although has failed to regain levels above 80.00 in recent trade. Today has the potential to be busy one for this cross if either (or both) of the respective central bank announcements produce a surprise. Momentum for the cross remains mildly positive at present although 80.00 needs to be cleared and hold in order for stronger resistance at the 81.50/60 level to be challenged.
  Current Level Support Resistance Last week's range
AUD/YEN 79.68 78.70 80.00 79.11 - 80.30

Friday 28th October 3:00pm(NZT)
The Australian dollar has rallied against the Japanese Yen in trade since Tuesday. The move can be put down to the relative underperformance of the JPY over the week even despite the sharp fall in the AUD/USD exchange rate from the ~.7710 highs. Momentum for this cross continues to be positive and next week’s RBA meeting on Tuesday shouldn’t alter that trend, although the BoJ outcome shortly after could present more of a wild card. The eventual target for this move is 81.50/60 resistance in time.
The current interbank midrate is:    AUDJPY 79.83

The interbank range this week has been:    AUDJPY 78.73 - 80.30
Tuesday 25th October 3:00pm(NZT)
The Australian dollar is largely unchanged in trade against the Yen since Friday. Lows above 78.70 were seen on Friday as the AUD/USD lows coincided with a minor rally in the JPY against the greenback at the time. In focus this week is Australia’s key inflation data tomorrow which could have the potential to change the recent range trading that we have seen in this cross. We have little overall bias although for now the momentum points to moderate potential upside.
  Current Level Support Resistance Last week's range
AUD/YEN 79.24 78.70 80.00 78.73 - 80.01

Friday 23rd October 2:30pm(NZT)
The Australian dollar is relatively unchanged in trade against the Japanese Yen since Tuesday. Highs around the 80.00 level which were seen during the week now usher in the first resistance (minor) and were created prior to yesterday’s weak Australian employment data. In focus next week is Australia’s key inflation data on Wednesday. We favour the upside still, although the caveat is the data not disappointing.
The current interbank midrate is:    AUDJPY 79.37

The interbank range this week has been:    AUDJPY 78.43 - 80.01
Tuesday 18th October 3:00pm(NZT)
The Australian dollar has lifted in trade against the Japanese Yen since our commentary on Friday. The move reflects the solid demand for the commodity currencies in recent days in the environment of a stronger USD. Of interest for this cross this week will be today’s RBA minutes and Thursday’s Australian employment data. The break of 79.20 and the positive momentum has us favouring upside in this cross over the days ahead, although the data as usual complicates.
  Current Level Support Resistance Last week's range
AUD/YEN 79.30 78.80 81.60 77.75 - 79.72

Friday 14th October 2:00pm(NZT)
The Australian dollar has eased slightly in trade against the Japanese Yen this week. It has been a relatively quiet week for the cross this week given the lack of important data coming out of either country. This has seen the cross bounded by 77.70/79.00 in trade which saw the highs set on the back of the Yens lows against the USD. We lack any view for next week but continue to see 79.20 as being important for any further upside momentum. Events to watch include Tuesday’s RBA minutes and Thursday’s Australian employment report.
The current interbank midrate is:    AUDJPY 78.45

The interbank range this week has been:    AUDJPY 77.75 - 79.03
Tuesday 11th October 2:00pm(NZT)
The Australian dollar is largely unchanged in trade against the Japanese Yen since Friday. Both currencies continue to feel the heat of a stronger USD, although in recent hours it has been the Yen which has declined notably. Momentum looks to be positive for the cross still, albeit for this move to continue we would like 79.10/20 to clear. Data from both countries is lacking this week so look to US data and commentary for leads from Thursday for direction. Minor support levels are seen at 78.00 and 77.50 and could be buy AUD targets.
  Current Level Support Resistance Last week's range
AUD/YEN 78.78 78.00 79.20 78.00 - 79.02

Friday 7th October 2:30pm(NZT)
The Australian dollar has drifted higher against the Japanese Yen since our commentary on Tuesday. Both currencies have felt the effect of stronger US data and a rally in the greenback, although for now the strong recent reversal in the trend of the USD/JPY (up) has seen the JPY underperform during what has been a relatively quiet week for new data. Data next week is also light which has us favouring an extension of current momentum, especially should 79.20 break. Resistance beyond looks to lie around 80.50 (weak) and then 81.60/70 (stronger).
The current interbank midrate is:    AUDJPY 78.68

The interbank range this week has been:    AUDJPY 76.52 - 79.06
Tuesday 4th October 3:00pm(NZT)
The Australian dollar has moved higher against the Japanese Yen since our commentary on Friday. The move comes in the void of any fresh critical data and reflects the relative support for the commodity currencies and softer Yen versus the greenback. In focus this week is this afternoon’s RBA statement which should govern over any Australian data. Further focus will be on any global equity market volatility and key US data at the end of the week. Momentum for now points to further AUD gains for the time being, although the big picture trend still favours the JPY overall.
  Current Level Support Resistance Last week's range
AUD/YEN 78.31 76.00 79.20 76.22 - 78.17

Friday 30th September 2:30pm(NZT)
The Australian dollar has moved higher in trade against the Japanese Yen this week. Highs ahead of 78.20 were seen yesterday when the AUD traded on its highs against the greenback, although souring risk sentiment has hurt the AUD and favoured the JPY in overnight trade. Focus for next week will be on the RBA on Tuesday and US data later in the week, although any further deterioration in global equities will of course be important (likely negative for AUD/JPY). We favour buying JPY on rallies in the cross and expect the downside to accelerate should 75.90/76.00 clear.
The current interbank midrate is:    AUDJPY 77.19

The interbank range this week has been:    AUDJPY 76.22 - 78.17
Tuesday 27th September 3:00pm(NZT)
The Australian dollar has eased marginally against the Japanese Yen since our report on Friday. The easing comes on the back of lack-lustre trade in the AUD and as the JPY continues to gain against the greenback in the wake of last week’s BoJ meeting. This week looks quiet on the scheduled data front from both countries with Friday’s Japanese inflation numbers and today’s BoJ minutes of note. Positive momentum for the Yen has us now favouring downside in this cross, although ideally support at 76.00 would need to give way.
  Current Level Support Resistance Last week's range
AUD/YEN 76.64 76.00 77.55 76.19 - 77.53

Friday 23rd September 2:00pm(NZT)
The Australian dollar has lifted moderately against the Japanese Yen since our report on Tuesday. The move comes on the back of indications from the RBA minutes and a speech from new RBA Governor Lowe yesterday, that point to little need for a further reduction in the Australian cash rate. Support at 75.95/76.00 looks pivotal to whether the cross can move lower in the short term, first minor resistance lies distant (around 79.15/20). Focus next week looks most likely to fall on the appetite for risk and commodity currencies (AUD) and the appetite for the Yen in the wake of this week’s BoJ meeting. We favour the upside while 76.00 holds.
The current interbank midrate is:    AUDJPY 77.16

The interbank range this week has been:    AUDJPY 76.19 - 77.53
Tuesday 20th September 2:00pm(NZT)
The Australian dollar has firmed slightly against the Japanese Yen since our report on Friday. Much of the move can put down to the rally in the AUD yesterday. This was likely because of the changed ability the RBA now has for greater flexibility in targeting inflation timelines when reviewing monetary policy (statement released yesterday, which potentially raises the bar for further RBA cuts). Interest this week will centre on the next 36 hours starting with today’s RBA minutes and then tomorrow’s BoJ monetary policy decision. We lack a bias given the considerable event uncertainty although the momentum remains weak; especially should 75.95/76.00 be cleared properly.
  Current Level Support Resistance Last week's range
AUD/YEN 76.78 76.00 79.20 76.01 - 77.41

Friday 16th September 2:30pm(NZT)
The Australian dollar is trading unchanged in trade against the Japanese Yen this week. It has been a relatively quiet week overall for the cross which saw it trade down to the 76.00 level earlier in the week on the back of the fall in the AUD as global equity markets corrected lower. Highs around 77.40 were seen prior and this level through to 77.60 now looks to form first (minor) resistance. Momentum for the cross still looks relatively weak which has us favouring it probing the downside next week, although the BoJ decision on Wednesday is a major caveat and introduces considerable uncertainty.
The current interbank midrate is:    AUDJPY 76.43

The interbank range this week has been:    AUDJPY 76.01 - 78.26
Tuesday 13th September 1:30pm(NZT)
The Australian dollar has fallen sharply against the Japanese Yen since our report last week. The move was unexpected and comes on the back of a severe financial market reaction to the hawkish comments of Fed officials on Friday, which saw the market raise the pricing for a US rate hike later this month. The comments saw investor’s desert equities and the risk currencies in favour of the USD and safe haven currencies like the Yen. Look to the Australian employment data (Thursday) and US data later in the week for direction. A watch should also be kept on markets, although there will be no further commentary from Fed officials now prior to next week’s monetary policy meeting.
  Current Level Support Resistance Last week's range
AUD/YEN 76.58 76.10 79.20 76.43 - 79.12

Thursday 8th September 2:30pm(NZT)
The Australian dollar has eased against the Japanese Yen since our commentary on Tuesday. The move reflects the outperformance of the Yen which has been seen in the wake of the weaker than expected US data which was delivered early yesterday. With key scheduled data having already been released and having drawn a minimal response from the market we look to a relatively quiet end to this week. For now immediate levels to watch are ~77.50 and 79.10/20.
The current interbank midrate is:    AUDJPY 78.07

The interbank range this week has been:    AUDJPY 77.56 - 79.12
Tuesday 6th September 3:30pm(NZT)
The Australian dollar has continued to advance against the Japanese Yen since our report on Friday. The continued positive momentum comes as demand for relatively high yielding currencies like the AUD remains strong after Friday’s weaker than expected US data pushed odds on expectations for Fed rate hikes lower (though only slightly). Direction this week will be provided by this afternoon’s RBA interest rate statement and Australian GDP data tomorrow. Expect Thursday’s Japanese GDP data to carry a much reduced weighting.
  Current Level Support Resistance Last week's range
AUD/YEN 78.80 76.10 81.50 77.17 - 78.89

Friday 2nd September 2:30pm(NZT)
The Australian dollar has continued to move higher in trade against the Japanese Yen this week. The move reflects the relative underperformance in the Yen this week in light of the increased support for the USD which has seen after the weekend’s Jackson Hole meeting of economic leaders. Comments from the BoJ Governor Kuroda at the meeting has also likely undermined demand for the Yen this week. Look to tonight’s US data for initial volatility before focus for the cross moves to next week’s RBA decision on Tuesday. The target for this move is 78.65 initially and 81.50 in time should the momentum higher for the AUD continue.
The current interbank midrate is:    AUDJPY 77.91

The interbank range this week has been:    AUDJPY 76.58 - 78.19
Tuesday 30th August 2:00pm(NZT)
The Australian dollar has rallied against the Japanese Yen since our report on Friday. The move comes on the back of the relative underperformance in the Yen in the wake of the comments which came out of Jackson Hole at the weekend. Both currencies have weakened against the greenback, although BoJ Governor Kuroda’s commitment to further easing in commentary at Jackson Hole (if required) has placed additional pressure on the Yen. Look to Friday’s US employment data for a pickup in volatility in the cross. For now we continue to see a break of 76.00 being required to renew the downside pressure.
  Current Level Support Resistance Last week's range
AUD/YEN 77.09 76.10 78.65 76.11 - 77.41

Friday 26th August 3:30pm(NZT)
The Australian dollar is trading largely unchanged against the Japanese Yen since our report on Tuesday. A lack of momentum which has been notable during the week was to be expected given the lack of market moving economic leads. Buying interest has twice been seen around the 76.10 level although stronger support lies more distant at 74.50. We lack a bias from here and see a break of 76.00 as being required to renew the short term downside momentum. Look for news and headlines out of the Jackson Hole meeting of economic leaders overnight and into next week for renewed volatility.
The current interbank midrate is:    AUDJPY 76.63

The interbank range this week has been:    AUDJPY 76.09 - 76.74
Tuesday 23rd August 1:30pm(NZT)
The Australian dollar has eased against the Japanese Yen since our report on Friday. The move comes on the back of the continued underperformance of the AUD in the face a firmer USD in recent hours, a theme which looks set to continue most of this week given the lack of key incoming data. Friday will be the day to note as we receive numbers on Japanese inflation and wait for any headlines out of the Jackson Hole meeting of central bankers scheduled for 25-27 August. For now we continue to favour lower levels over time, although caution around BOJ comments and potential intervention (to weaken the JPY) is needed.
  Current Level Support Resistance Last week's range
AUD/YEN 76.46 74.50 78.65 76.09 - 77.60

Friday 19th August 1:30pm(NZT)
The Australian dollar has continued to move lower against the Japanese Yen since our commentary on Tuesday. The move reflects the relatively disappointing underperformance of the AUD given the overall weakness which has been seen in the USD this week. Look for a quiet week in this cross next week given the lack of key incoming economic leads (Japanese inflation on Friday). This has us favouring buying the JPY over the AUD given the current yen strength. Key resistance is noted around 78.65 currently.
The current interbank midrate is:    AUDJPY 76.87

The interbank range this week has been:    AUDJPY 76.30 - 78.54
Tuesday 16th August 1:30pm(NZT)
The Australian dollar has eased against the Japanese Yen since our last report. The move comes as demand for the Yen remains strong even despite yesterday’s weaker than expected Q2 GDP data. Some pressure was seen on the AUD to end the week on the back of the weaker than expected Chinese data that was received throughout the day. Look to the Australian employment data on Thursday for the main item of interest for the cross this week. We continue to favour selling rallies at present, although expect a subdued week.
  Current Level Support Resistance Last week's range
AUD/YEN 77.44 76.50 78.65 77.35 - 78.61

Friday 12th August 2:30pm(NZT)
The Australian dollar is trading largely unchanged in trade against the Japanese Yen this week. The relative calm has come on the back of data calendar’s that have lacked higher impact numbers from both countries this week. A moderate lift in the AUD and small losses in the JPY have helped the cross eke out minor gains over the week which have so far been limited to highs around 78.65. Look to Japanese data on Monday for first influence. In Australia events to watch are Tuesday’s RBA minutes and Thursday’s employment data. Resistance beyond the weeks highs is seen in the 79.50/60 zone.
The current interbank midrate is:    AUDJPY 78.37

The interbank range this week has been:    AUDJPY 77.19 - 78.66
Tuesday 9th August 2:30pm(NZT)
The Australian dollar has continued to firm against the Japanese Yen since Friday’s commentary. The move up is a reflection of the continued support for the AUD which has been seen in recent hours, even after Friday’s better than expected US employment data (which has seen the Yen marked down against the greenback). This week looks set to be a quiet one for this cross, at least from a scheduled event point of view, although RBA Governor Steven’s speech tomorrow should be noted. We favour any further gains being limited to first resistance on the week.
  Current Level Support Resistance Last week's range
AUD/YEN 78.39 76.50 79.60 76.51 - 78.66

Friday 5th August 12:30pm(NZT)
The Australian dollar has lifted moderately against the Japanese Yen in trade since Tuesday. The move is a result of strength in the AUD (which has outpaced any JPY gains) which has been noted since Tuesday’s move by the RBA to cut interest rates to new lows. Weaker than expected key Australian data has done little to reduce the current AUD demand and has us favouring a push towards first resistance at 78.10/20 in the hours ahead. Support has emerged at 76.50 this week and would be the initial target in the event of a reversal. Better resistance is pegged at 79.50/60.
The current interbank midrate is:    AUDJPY 77.32

The interbank range this week has been:    AUDJPY 76.51 - 79.00
Tuesday 2nd August 3:00pm(NZT)
The Australian dollar has weakened against the Japanese Yen since our report on Friday. The move comes on the back of the Yen strength (initially) which came later on Friday after the BOJ underwhelmed the market with the degree and type of extra stimulus announced at its monetary policy meeting. Weakness in the AUD has been seen in recent hours ahead of this afternoon’s key RBA monetary policy decision. Expect the decision at this meeting to set the tone of trade this week in the cross. For now the cross looks heavy and we favour selling a decent rally should the RBA remain on hold. Second resistance and a sell target could be the 79.50/60 zone.
  Current Level Support Resistance Last week's range
AUD/YEN 77.12 74.50 78.20 77.00 - 79.56

Friday 29th July 1:45pm(NZT)
The Australian dollar is largely unchanged against the Japanese Yen since our report on Tuesday. The relative lack of volatility was to be expected given the weight of importance that sits on the decision that will come from the Bank of Japan at today’s monetary policy announcement. Expect high volatility over the announcement with the move in the cross being dictated by the JPY’s response to the degree and size/type of stimulus that looks likely to be announced. Resistance is noted at 81.50 whilst key support is seen around 74.50 on the downside.
The current interbank midrate is:    AUDJPY 78.48

The interbank range this week has been:    AUDJPY 78.15 - 79.69
Tuesday 26th July 2:00pm(NZT)
The Australian dollar has eased against the Japanese Yen in trade since Friday in a move that has accelerated on the back of a strengthening Yen in recent hours. This week looks set to be a busy one as we receive data from Australia on inflation on Wednesday and the results of the BOJ meeting on Friday. These events look set to dictate the fortunes for the cross on the week and the uncertainty around them has us preferring to stay on the sidelines this week, although we note that for now the momentum is to the AUD downside.
  Current Level Support Resistance Last week's range
AUD/YEN 78.60 77.40 81.50 78.25 - 80.42

Friday 22nd July 1:00pm(NZT)
The Australian dollar has eased against the Japanese Yen since our report on Tuesday. The move comes on the back of last night’s gain in the JPY (against the USD) on reports of comments from a historical interview with BOJ Governor Kuroda. The AUD has been under some pressure after Tuesday’s RBA minutes raised expectations for a move lower in the August cash rate review. Support at 78.85/79.00 has held the sell-off so far whilst gains have been capped ahead of 80.50. Next week should reignite greater levels of volatility in this cross as we await Wednesday’s Australian inflation numbers and Friday’s BOJ monetary policy decision. A break of support should open the downside considerably.
The current interbank midrate is:    AUDJPY 79.44

The interbank range this week has been:    AUDJPY 79.09 - 81.47
Tuesday 19th July 1:00pm(NZT)
The Australian dollar is unchanged in trade against the Japanese Yen since our last report. Last week was a good one for this cross as it reacted to sound employment data from Australia and weak demand for the Yen on the prospect of increased Japanese stimulus and as markets continued to embrace risk over the course of the week. Look to this afternoon’s RBA minutes for initial influence on this cross. Subsequent direction looks likely to come from the US data and risk appeal given the light data calendar for the rest of the week.
  Current Level Support Resistance Last week's range
AUD/YEN 80.01 78.85 81.50 77.23 - 81.47

Friday 15th July 2:00pm(NZT)
A number of factors combined this week to see the Australian dollar climb sharply against the Japanese Yen during the week. Highs near 81.00 were surprising and came as global equities continued to rally in an environment which was very favourable to risk. This type of environment is notable for the absence of Yen ‘safe haven’ demand and came at the same time as the Yen was under pressure from the signal of increased stimulus from the Abe Government. Strong full-time Australian employment numbers added to the rally although recent Yen strength (against the USD) has mitigated some of those gains. The rally this week looks extended to us although the flighty nature of the ‘risk’ theme and current JPY plunge makes direction particularly difficult to foresee.
The current interbank midrate is:    AUDJPY 80.26

The interbank range this week has been:    AUDJPY 75.05 - 80.99
Tuesday 12th July 1:00pm(NZT)
Increased political clarity in Australia after the weekend’s election vote counting and the talk of further stimulus in Japan post PM Abe’s win in the upper house has seen the Australian dollar rally against the Japanese Yen in recent trade. We continue to favour buying the JPY over the AUD as we would treat the ‘Abe’ inspired JPY sell-off with caution given the limited success of other policy responses to cement in weakening the JPY (although we acknowledge the JPY is much stronger this time). Australian employment data on Thursday looks set to be the main economic event for this cross this week.
  Current Level Support Resistance Last week's range
AUD/YEN 77.23 74.50 78.00 74.58 - 77.68

Friday 8th July 12:00pm(NZT)
The Australian dollar has fallen against the Japanese Yen this week, although current levels sit off fresh support that has formed around the 74.50 lows. Persistent Yen strength remains a theme for Yen crosses overall in the new post-Brexit world, although the UK vote has merely cemented a trend that has been in place since the middle of last year. We continue to favour buying the JPY over the AUD on AUD/JPY rallies towards 77.00. Immediate focus for this cross is today’s US employment data where a sell-off in this cross looks likely should the data surprise to the upside by a decent margin.
The current interbank midrate is:    AUDJPY 75.37

The interbank range this week has been:    AUDJPY 74.58 - 77.40
Tuesday 5th July 2:00pm(NZT)
The Australian dollar has edged higher against the Japanese Yen in trade since our report on Friday. The move, which comes despite the prospect of a hung parliament after the weekend’s Australian election, reflects the (currently) supportive environment for those currencies which are both higher yielding and have a reduced exposure to the unfolding events in the UK and Europe. Look to today’s RBA cash rate statement for further incite on the yield appeal of the AUD whilst again look to international markets to dictate the mood on risk over the week. We favour buying JPY around current levels.
  Current Level Support Resistance Last week's range
AUD/YEN 77.02 75.40 77.50 74.73 - 77.40

Friday 1st July 3:00pm(NZT)
The rebound in the appetite for risk which started on Tuesday following Friday’s Brexit referendum market rout has seen the Australian dollar rally strongly against the Japanese Yen this week. So far the gains have been limited to resistance around the 77.00 level, although we can expect next week to again be volatile given the current swings being experienced in the financial markets. Adding to the complex outlook is this weekend’s Australian election and the RBA cash rate decision on Tuesday. The extended equities bounce has us favouring buying the JPY over the AUD at current levels.
The current interbank midrate is:    AUDJPY 76.63

The interbank range this week has been:    AUDJPY 73.32 - 79.12
Tuesday 28th June 2:00pm(NZT)
The Australian dollar has fallen sharply against the Japanese Yen in the wake of Friday’s decision by the UK to leave the EU. The move comes as the market quickly unwound the ill-founded gains that had taken place running into Friday’s vote which had assumed that the UK would vote to remain within the EU. The significant volatility and declines on global equity exchanges has seen the JPY appreciate materially on ‘safe haven’ flow, whilst the AUD has felt the weight of a significant flow out of ‘risk’ assets/currencies. Look for this theme to dominate again this week. We favour selling rallies in this cross, hopefully near first resistance (76.90/77.00).
  Current Level Support Resistance Last week's range
AUD/YEN 74.84 72.50 77.00 73.32 - 81.57

Friday 24th June 3:00pm(NZT)
The Australian dollar has rallied against the Japanese Yen this week as the market has moved to increase its bets on the riskier currencies like the AUD over those seen as a safe haven (such as the Yen) in the lead-up to the results of today’s vote of the UK EU referendum. Expectations of a win by the ‘remain’ campaign have increased over the week and expect the final news of the result by around 7.00 a.m. London time. Levels to note are the recent lows around 75.60 and the overnight highs just above 81.50 and then 82.00. Expect volatility in this cross to be amongst the highest of all the crosses covered.
The current interbank midrate is:    AUDJPY 77.90

The interbank range this week has been:    AUDJPY 76.83 - 81.57
Tuesday 21st June 2:00pm(NZT)
The Australian dollar sits unchanged against the Japanese Yen since our report on Friday. Gains yesterday came on the back of ‘risk’ buying of the AUD after recent polling on the Brexit referendum showed a gain in momentum for the ‘remain’ vote. Highs have been limited to 78.15 so far and this area now forms first resistance. First support is distant around last week’s lows (75.60). Look to today’s RBA minutes for first influence, although expect the outcome of the Brexit vote to dictate the main weekly direction. We favour buying the JPY against the AUD and would use a Brexit rally to set AUD/JPY sell orders. Second resistance is set in the 78.65/85 zone and then 80.30 and 80.80 (strong).
  Current Level Support Resistance Last week's range
AUD/YEN 77.56 75.60 78.15 75.65 - 78.73

Friday 17th June 3:00pm(NZT)
The Australian dollar has continued to be marked down against the Japanese Yen this week. Support at 78.00 gave way over the course of the week and opened fresh lows (limited ahead of 75.60) not seen since May 2012. Demand for the safe haven Yen and supply for the riskier AUD has been dominant theme of the last two weeks as the market continues to respond to the looming UK EU referendum (next Thursday). Lows yesterday were seen after the BOJ’s decision to not ease further, a move likely influenced by the referendum. Expect a very volatile week next week with the outcome of the referendum ultimately influencing the next large move. Expect significantly higher levels should the UK choose to continue to embrace EU membership.
The current interbank midrate is:    AUDJPY 77.37

The interbank range this week has been:    AUDJPY 75.65 - 79.56
Tuesday 14th June 2:00pm(NZT)
The Australian dollar has fallen against the Japanese Yen since our commentary on Friday. The move comes as the market looks to the safely of the JPY and averts the riskier currencies like the AUD in the wake of Friday’s polling on the UK EU referendum. The risk of a UK exit from the EU has the market concerned over the wider implications for the financial markets and country membership in the EU, issues which cloud the global economic landscape. Scheduled events for the cross to consider this week are the Australian employment report and BOJ monetary policy meeting on Thursday. Support is seen at 78.00, momentum and the bigger picture techs point to lower levels ahead, especially should 78.00 cleanly break. Next support looks distant at around 74.50.
  Current Level Support Resistance Last week's range
AUD/YEN 78.44 78.00 80.80 78.11 - 80.29

Friday 10th June 3:00pm(NZT)
The Australian sits largely unchanged against the Japanese Yen since our last report. The range has been relatively contained over the week which has seen highs limited to 80.30, and lows limited to ~79.00. The bigger picture range remains 78.00/80.80 and this looks likely to again accommodate next week although Thursday is a key day to watch the cross with the BOJ monetary policy decision and Australian employment data both due.
The current interbank midrate is:    AUDJPY 79.52

The interbank range this week has been:    AUDJPY 78.05 - 80.29
Tuesday 7th June 3:00pm(NZT)
Volatility has been the order of the day for the Australian dollar against the Japanese Yen since our report last week. Both currencies rallied strongly on Friday after the US employment report shocker although the JPY outpaced the AUD and led to lows near 78.00 in the cross. Recent JPY weakness (against the USD) has seen the cross bounce from its lows however. Of immediate interest for the cross is this afternoon’s RBA cash rate decision and statement. We expect more choppy trade this week within 78.00/80.80 but note today’s RBA risk.
  Current Level Support Resistance Last week's range
AUD/YEN 79.26 78.00 80.80 78.05 - 80.77

Thursday 2nd June 1:30pm(NZT)
The Australian dollar has had a volatile week against the Japanese Yen. Strong Australian data saw the cross briefly break resistance as it rose to highs near 80.80 earlier in the week. The gains proved temporary however, and the cross has once again reverted well back into its recent range after comments from PM Abe caused the JPY to rally in recent trade. Australian retail sales and trade (less so) numbers are the immediate events to watch for the cross. US employment data tomorrow could also have important implications. Support is seen initially ahead of 79.00 and then 78.00. Resistance after the false break lies from 80.65 to around the weekly highs (80.80).
The current interbank midrate is:    AUDJPY 79.35

The interbank range this week has been:    AUDJPY 78.49 - 80.76
Tuesday 31st May 2:30pm(NZT)
The Australian dollar has lifted marginally against the Yen since our report on Friday, although current levels remain well within the ranges established during the last four weeks. These bounds (78.00/80.65) look to have the potential to again hold the cross this week, although Australian data (most so GDP and retail sales) offer the chance (remote) of a threat. A consolidated break either way should open significant movement in the direction of the break. US data (employment on Friday) could also incite a break if it has a lasting impact on the high yielders and risk/commodity sentiment.
  Current Level Support Resistance Last week's range
AUD/YEN 79.74 78.00 80.65 78.31 - 79.91

Friday 27th May 2:00pm(NZT)
A range of 78.00 to 80.65 has contained this pair for much of the past three weeks. That sideways trading continued this week and we currently sit bang in the middle of the range. The weeks low of 78.31 traded in the aftermath of Governor Stevens speech on Tuesday, but the dip was short lived. Some volatility in the Yen yesterday caused another small wobble, this time trading down to 78.47, but again the pair gravitated back toward 79.25. There is plenty of data from Australia next week that could shake the pair up including building approvals, GDP, retails sales and the trade balance. While from Japan we also have retail sales along with household spending and unemployment data.
The current interbank midrate is:    AUDJPY 79.30

The interbank range this week has been:    AUDJPY 78.31 - 79.93
Tuesday 24th May 2:00pm(NZT)
The Australian dollar has again eased against the Japanese Yen in recent trade. The move this week has come on the back of better than expected Japanese trade data yesterday and comments from the G7 over the weekend which warned against Japanese intervention to weaken the JPY. Easing commodity prices, particularly so iron ore, have pressured the AUD in recent trade. Expect external events to drive the cross this week given the lack of critical data due from either country.
  Current Level Support Resistance Last week's range
AUD/YEN 78.93 78.00 80.65 78.80 - 80.56

Friday 20th May 3:00pm(NZT)
The Australian dollar sits near Tuesday’s levels against the Japanese Yen in current trade. Gains on the week were limited to the prior week’s highs around the 80.55/65 level which forms the first area of notable resistance. Higher lows in the last two weeks have us favouring a lift in the cross over the days/weeks ahead, although a break of 78.00 would negate this view. Data looks unlikely to drive the cross next week so again look to JPY and AUD/commodity sentiment for direction. Resistance beyond 80.55/65 is seen at 82.00.
The current interbank midrate is:    AUDJPY 79.54

The interbank range this week has been:    AUDJPY 78.85 - 80.56
Tuesday 17th May 2:00pm(NZT)
The Australian dollar is largely unchanged against the Japanese Yen since our report on Friday. Further declines were seen initially on the back of a stronger JPY on Friday as US equities fell (JPY safe haven demand) and after weaker than expected Chinese data released at the weekend (AUD-). Australian employment data on Thursday and to a much less extent Japanese GDP data tomorrow are the economic events of interest. Commodities and risk sentiment are also important as usual.
  Current Level Support Resistance Last week's range
AUD/YEN 79.31 78.00 80.60 78.85 - 80.65

Friday 13th May 3:00pm(NZT)
The Australian dollar remains under pressure against the Japanese Yen in current trade as sentiment towards the AUD remains bearish after last week’s RBA events. Highs in the 80.50/60 region this week are first resistance and have come prior to the current down-leg which could again extend to weak support ahead of 78.00. We favour lower levels ahead for this cross given the relative sentiment shown towards the two. Australian employment numbers feature on Wednesday.
The current interbank midrate is:    AUDJPY 79.42

The interbank range this week has been:    AUDJPY 78.19 - 80.65
Tuesday 10th May 2:00pm(NZT)
The Australian dollar has continued to fall against the Japanese Yen since our report on Friday. Weakness in the JPY overnight has allowed the cross to bounce somewhat from its lows ahead of 78.00. However, sentiment towards the AUD remains weak after last week’s RBA rate cut and inflation commentary and on the back of heavy selling in currencies that are exposed to the recent commodity falls. Look for these issues to again dictate trade this week given the quiet data calendars due from both countries.
  Current Level Support Resistance Last week's range
AUD/YEN 79.21 78.10 80.50 78.19 - 81.95

Friday 6th May 2:00pm(NZT)
Last week’s horror run by the Australian dollar against the Japanese Yen has continued this week. This time it was the turn of the Australian central bank to inflict the damage after they cut rates on Tuesday. Continued pressure has been applied on the cross by the weakness seen in the commodity currencies over the week. Lows have so far been limited to old prior support in the 79.50/60 area. First resistance is now seen near 82.00. Resistance beyond lies around 83.00. Look to today’s RBA statement on monetary policy for fresh direction prior to tonight’s US employment data.
The current interbank midrate is:    AUDJPY 80.10

The interbank range this week has been:    AUDJPY 79.54 - 82.41
Tuesday 3rd May 2:20pm(NZT)
The Australian dollar has continued to fall against the Japanese Yen since our last commentary. Momentum from last week’s Australian inflation miss and the BOJ’s decision not to add any further stimulus to the Japanese economy lies as the key reason behind the move. Last week’s extremely high volatility in this cross looks set to continue again today given the even mix of expectations on this afternoon’s RBA cash rate decision. We lack bias given the difficulty making a call but wouldn’t be surprised if 79.50/60 second support or resistance at 83.00 trades over time, depending on the outcome.
  Current Level Support Resistance Last week's range
AUD/YEN 81.43 80.60 83.00 80.70 - 86.31

Friday 29th April 2:00pm(NZT)
The Australian dollar has had a massive selloff against the Japanese Yen this week. The decline this week from the highs neared 5% at one stage and came on the back of the dual effect of a large miss in the latest Australian inflation data on Wednesday and the decision to not add any further stimulus by the BOJ yesterday at their central bank meeting. Look for another volatile week in the cross next week. The RBA cash rate announcement will feature on Tuesday and presently the chance of a cut (from 2.0%) is a line ball call. Nearby support and resistance levels are hard to define. On the downside 80.50/60 and 79.50/60 are levels of interest whilst on the topside 83.00 and 84.90 may provide some resistance.
The current interbank midrate is:    AUDJPY 82.29

The interbank range this week has been:    AUDJPY 82.12 - 86.38
Tuesday 26th April 2:20pm(NZT)
The Australian dollar has firmed against the Japanese Yen since our report on Friday. The move came after Friday’s sudden slump in the price of the JPY against the USD after reports surfaced that the BOJ were considering loans to banks at negative interest rates in order to bolster bank lending. The news has heightening interest around this Thursday’s BOJ interest rate meeting and any further stimulus that will be announced. Australian inflation data tomorrow will also be of interest for the cross. Look also for the appetite for risk and high yielders (like the AUD) post the US FOMC decision/statement. We continue to marginally favour selling rallies above 86.00 for now.
  Current Level Support Resistance Last week's range
AUD/YEN 85.72 84.60 86.70 84.61 - 86.38

Friday 22nd April 2:00pm(NZT)
The Australian dollar has fallen notably in recent trade against the Japanese Yen. The move is a continuation of the theme of volatility based around the support for commodity and risk currencies and comes amid weekly gains for the cross as these factors have been generally supportive for most of this week. A lack of intervening data has also been notable this week, although this will change next week with Australian inflation data and the BOJ central bank meeting due. Resistance has now formed just ahead of 86.00, support is seen around 82.50. Expect more choppy trade next week. We marginally favour selling rallies near 86.00 and above for now.
The current interbank midrate is:    AUDJPY 84.82

The interbank range this week has been:    AUDJPY 82.19 - 85.88
Tuesday 19th April 2:40pm(NZT)
The Australian dollar has lifted against the Japanese Yen since our report on Friday. The move comes after a large sell-off yesterday which occurred in the commodity currencies post the Doha oil producer meeting impasse. Oil prices which fell heavily on the open have since reversed in trade, on the news of supply cuts in Kuwait which will see over 60% of production cut as oil workers strike. The oil recovery has aided risk sentiment which has seen the AUD benefit at the expense of the Yen. With light data calendars out of both countries this week expect oil, risk and the commodity environment in general, to once again have a heavy influence on the AUDJPY cross.
  Current Level Support Resistance Last week's range
AUD/YEN 84.77 82.50 86.70 82.19 - 84.96

Friday 15th April 2:00pm(NZT)
The Australian dollar has staged an impressive rally against the Japanese Yen this week. The move comes on the back of the solid support seen for the AUD in an environment which has been accommodative for commodity and risk currencies. A correction lower in the JPY against the USD after its recent strong run has amplified the bounce. Australian employment data released yesterday was also received positively by the market. A lack of data prior to Tuesday will mean that risk/commodity and moves in the JPY vs the USD will drive this cross over coming days. We marginally favour selling rallies.
The current interbank midrate is:    AUDJPY 84.31

The interbank range this week has been:    AUDJPY 81.09 - 84.48
Tuesday 12th April 2:30pm(NZT)
The Australian dollar has managed to lift marginally against the Japanese Yen since our last report. This comes on the back of the rally seen in the AUD/USD exchange rate since Friday (commodity inspired) and comes as the JPY has consolidated against the USD. Look for this cross to again be vulnerable to any reigniting of the sharp moves higher in the JPY (against the USD) that were notable last week. Australian employment data on Thursday will be of interest, although should take a back seat to the broader theme of JPY demand (against the USD). We favour selling rallies around second resistance at 83.75.
  Current Level Support Resistance Last week's range
AUD/YEN 81.89 79.50 82.50 80.79 - 84.53

Friday 8th April 2:00pm(NZT)
The Australian dollar has continued to fall sharply against the Yen over the course of this week. Declines to the lows have reached 5.7% on the week from opening levels. These have come mainly on the back of the heavy selling seen in many currencies against the JPY over the course of the week, of which only a little can be put down to ‘safe haven’ JPY demand. Support levels are difficult to see, although some support should be seen near 79.50. First resistance is seen around 83.75. We favour selling rallies in this environment, although the heavy flow going through cross JPY currencies makes moves extremely difficult to foresee.
The current interbank midrate is:    AUDJPY 81.88

The interbank range this week has been:    AUDJPY 80.79 - 86.45
Tuesday 5th April 2:30pm(NZT)
The fortunes for the Australian dollar against the Japanese Yen have significantly reversed since our last report. The move comes on the back of an increase in safe haven Yen demand on Friday brought about by weak global equity bourses (ex. the US) and moderate risk off flow. The fall has been compounded by the 2%+ decline overnight in the CRB commodity price index. The degree of JPY strength since Friday surprises somewhat, although focus now for this cross needs to turn to today’s RBA cash rate decision and following commentary, particularly should the Governor choose to address the recent AUD strength.
  Current Level Support Resistance Last week's range
AUD/YEN 84.21 83.30 86.70 84.20 - 86.69

Friday 1st April 3:30pm(NZT)
The Australian dollar has continued to move higher against the Japanese Yen this week since our report on Tuesday. The move has been a result of the outperformance of the AUD post the dovish speech from US Fed Chair Yellen which dampened the enthusiasm for US rate hikes in 2016. The resultant increase in global equities and appetite for riskier currencies like the AUD has bolstered this cross in the interim. We favour continued upside in this cross targeting the 88.25/88.60 zone in time, although note that changes in risk appetite can quickly dent the fortunes for this cross. US employment data is the first event of note that may impact this (tonight). Australian data and the RBA cash rate decision are due early next week.
The current interbank midrate is:    AUDJPY 86.17

The interbank range this week has been:    AUDJPY 84.85 - 86.69
Tuesday 29th March 2:30pm(NZT)
The Australian dollar has moved higher against the Japanese Yen since our report last week. Some volatility in the cross has been noted since, especially after the terrorist attacks in Brussels last week which bolstered demand for the safe haven JPY. This saw risk sensitive currencies like the AUD decline. Lower commodity prices also hurt the AUD later in the week, although the cross has recovered from its lows. We continue to favour moderately higher levels for the time being, although would expect the cross to be reasonably well contained given the relatively quiet data schedules due this week.
  Current Level Support Resistance Last week's range
AUD/YEN 85.60 84.00 86.00 84.16 - 85.87

Tuesday 22nd March 3:30pm(NZT)
The Australian dollar is drifting higher in current trade this week against the Japanese Yen. The slide noted towards the end of the week found a base ahead of 84.20 yesterday. The inability of the AUD to outperform the JPY since the FOMC meeting is perhaps a little surprising to us. This has us slightly favouring higher levels moving forward towards key resistance based on the generally more supportive environment for commodities. A holiday week this week is likely to see the cross contained this week by last week’s extremities.
  Current Level Support Resistance Last week's range
AUD/YEN 84.94 84.00 86.40 83.95 - 85.83

Friday 18th March 1:30pm(NZT)
The Australian dollar has eased against the Japanese Yen this week. Early week commodity based declines in the cross reversed initially after the US FOMC meeting yesterday. The reduced likely path for interest rates issued by the Fed saw the USD fall heavily and the AUD initially outperform the JPY on the increased appetite seen for risk currencies and currencies with an exposure to rallying commodities (which surged on the back of the USD decline). Gains for the AUD/JPY have moderated overnight. This came on the back of the move in the USD/JPY which moved lower (JPY up) to lows not seen since October 2014. Data is light from both countries next week. We have no real bias on direction.
The current interbank midrate is:    AUDJPY 85.02

The interbank range this week has been:    AUDJPY 83.95 - 86.41
Tuesday 15th March 1:30pm(NZT)
The Australian dollar has advanced strongly against the Japanese Yen since our last report. The move comes on the back of the lift which was seen in the AUD/USD exchange rate later on Friday after the CRB commodity price index rallied 1% on the day. The rally peaked around the late January 2016 highs at 86.40. This level now forms important resistance on the topside. Support is seen in the 83.10-83.35 zone. Today should be busy for this cross with both the RBA minutes and BoJ meeting announcements due. We lack any real bias from here on the next move.
  Current Level Support Resistance Last week's range
AUD/YEN 85.52 83.35 86.40 83.37 - 86.41

Friday 11th March 1:30pm(NZT)
The Australian dollar sits largely unchanged in current trade against the Japanese Yen this week. This comes on the back of light data calendars out of both countries this week and a move higher in the JPY against the USD overnight after the ECB meeting. The AUD/USD meanwhile has failed to build on its gains seen earlier in the week which have seen it slide 0.75c from its highs. Events of interest next week start with the BOJ central bank meeting on Tuesday. Mild support for the cross is noted in the 83.10-83.35 zone, resistance is seen ahead of 84.50 initially and then around the weekly highs (~85.60).
The current interbank midrate is:    AUDJPY 84.16

The interbank range this week has been:    AUDJPY 83.26 - 85.56
Friday 4th March 6:00pm(NZT)
The Australian dollar has had a strong week against the Euro this week on the back of the solid showing seen by the AUD/USD in an environment which has been very supportive for commodity based currencies and those with ‘risk’ appeal. The AUD has received additional support from the release of a strong local Q4 GDP report on Wednesday. Australian retail sales is the immediate event of interest for this cross (today). U.S. data later will also have a key impact particularly if it was to invoke risk trade flow. We like this stronger AUD to continue, although note the very strong recent gains. Buying ahead of support at .6600 (1.5152 resistance) or .6550 (1.5267 resistance) may be preferable.
The current interbank midrate is:    AUDJPY 83.62

The interbank range this week has been:    AUDJPY 79.83 - 83.78
Tuesday 1st March 2:30pm(NZT)
The Australian dollar has fallen sharply against the Japanese Yen since our last report. This continues the pattern of up/down volatility seen since mid February and comes after better than expected U.S. data late last week and a rally in the JPY in recent hours on safe haven demand. We see more of the same whilst the 79.50-82.50 range holds, although the significant data out of Australia (starting with the RBA at 4.30 pm today) likely holds the key to this view.
  Current Level Support Resistance Last week's range
AUD/YEN 80.26 79.60 82.10 79.66 - 82.01

Friday 26th February 2:00pm(NZT)
The Australian dollar has had a volatile week’s trade this week against the Japanese Yen. The lows came on the back of a surge in the JPY mid week (against the USD) and slide in the AUD/USD exchange rate, again on the back of the familiar themes of safe haven and risk flow. Like the NZD/JPY cross, we now see this cross as being in a consolidation phase and see material losses in the near term below this week’s lows (~79.60) as unlikely. Resistance beyond 82.10 lies ahead of 82.50 initially and then in the 83.20/50 zone. Changes in risk sentiment and a heavy data calendar next week should mean that volatility in this cross again remains high.
The current interbank midrate is:    AUDJPY 81.93

The interbank range this week has been:    AUDJPY 79.66 - 82.02
Tuesday 23th February 4:00pm(NZT)
The Australian dollar has advanced against the Japanese Yen in trade so far this week. This comes on the back of the strong rally in the AUD exchange rate seen since the market opened. The gains have been helped by firming commodity prices and the general improvement in risk sentiment which has improved on the back of the strong gains seen so far this week in international equity markets. These considerations look set to dictate moves in this cross for the remainder of the week given the largely empty data calendar. A break of 82.50 should open higher levels although for now further consolidation appears most likely.
  Current Level Support Resistance Last week's range
AUD/YEN 81.33 79.80 82.00 79.85 - 82.42

Friday 19th February 2:00pm(NZT)
The Australian dollar sits near its weekly opening levels against the Japanese Yen in current trade. A reduction in the extreme financial market volatility this week has allowed the AUD/JPY cross rate to consolidate after the sharp fall seen since the start of the month. We favour a drift lower in this cross over time based on a more bullish short term outlook for the Yen. Data considerations next week will take a back seat to any sudden shifts in risk sentiment. Resistance is seen at 82.00 and 82.40 initially.
The current interbank midrate is:    AUDJPY 80.78

The interbank range this week has been:    AUDJPY 79.30 - 82.42
Tuesday 16th February 2:00pm(NZT)
The Australian dollar has rallied against the Japanese Yen since our last report. Again the move can be put down to changes in risk sentiment and Yen safe haven demand. These factors were key drivers last week and again should play a large roll this week. Australian employment data on Thursday will also be important, but should quickly take a back-seat given the macro factors at play. Resistance at 82.00 has capped the rally so far; beyond here the next resistance level looks to lie just ahead of 83.00.
  Current Level Support Resistance Last week's range
AUD/YEN 81.85 77.50 82.00 77.83 - 81.99

Friday 12th February 2:00pm(NZT)
The Australian dollar has fallen heavily against the Japanese Yen this week, although sits well of its recent lows in current trade. The moves come on the back of surge in the JPY against the USD which has occurred on the back of large safe haven demand and exiting of overextended USD positioning. Swings in financial market sentiment will continue to bear significantly on the safe haven demand of the Yen and the AUD/JPY exchange rate next week. We favour cautiously selling rallies in this environment. First resistance to this move lies around 80.50 and then near 82.00. The extreme volatility of the USD/JPY makes levels difficult to peg however.
The current interbank midrate is:    AUDJPY 79.85

The interbank range this week has been:    AUDJPY 77.83 - 84.27
Tuesday 9th February 3:00pm(NZT)
The Australian dollar is trading heavily in current trade against the Japanese Yen and is continuing on the trend seen during last week’s trade. The move lower has accelerated since our last report and comes on the back of large risk aversion flow and subsequent moves into the safe haven JPY which occur during periods of extreme market uncertainty. Large declines in global equities and elevated credit market concerns have been the drivers for this flow this week. This theme will again dominate this week although a speech by the RBA Governor on Friday may elicit some interest.
  Current Level Support Resistance Last week's range
AUD/YEN 81.61 79.20 83.50 81.61 - 86.13

Friday 5th February 2:00pm(NZT)
The Australian dollar is trading on a soft footing against the JPY in current trade having slid on the week from its opening levels. The JPY outperformance has been somewhat of a surprise this week especially after Friday’s surprise easing by the BOJ. Large-scale liquidation of extended USD longs has seen the JPY appreciate sharply on the week and out-pace those gains seen by the AUD. Australian retail sales and the RBA statement on monetary policy at 11.30 pm AEST are the immediate threat for this cross. We are unsure from here on the next move; first resistance is noted above in the 85.00-85.25 zone.
The current interbank midrate is:    AUDJPY 84.15

The interbank range this week has been:    AUDJPY 83.35 - 86.32
Tuesday 2nd February 2:00pm(NZT)
The Australian dollar has continued to rise sharply against the Japanese Yen since our last report and took another sharp boost after the unexpected easing by the BOJ on Friday. This move has bolstered demand for risk assets (AUD+), and at the same time saw a sharp reduction in JPY longs (USD shorts) as traders moved to cover speculative positioning that was extended ahead of the announcement. The RBA cash rate decision this afternoon poses the first risk to this cross. Friday will also be important with the release of Australian retail sales and the RBA statement on monetary policy. We favour higher levels given the presently opposing sentiment displayed towards the JPY and AUD.
  Current Level Support Resistance Last week's range
AUD/YEN 85.84 85.25 88.20 0.9848 - 0.9987

Friday 29th January 1:30pm(NZT)
The Australian dollar has posted solid gains this week against the Japanese Yen on the back of increased risk and commodity currency appetite. This coupled with a better than expected local Q4 inflation print, and losses in the Yen ahead of this afternoon’s BOJ press conference. We expect some decent volatility over this event as the market looks for signs of more imminent BOJ easing. Next week’s Australian data, RBA meeting and investor sentiment look set to drive this cross after today’s busy Japanese schedule. Some resistance beyond the overnight highs should lie near 85.50.
The current interbank midrate is:    AUDJPY 84.30

The interbank range this week has been:    AUDJPY 81.49 - 84.74
Tuesday 26th January 4:00pm(NZT)
The Australian dollar has fallen from its highs against the Japanese Yen seen last week; these were set near the 83.50 level. A solid recovery was noted in this pair during the week, this was helped by the lift in risk sentiment and key commodity pricing towards the end of the week, sentiment which also saw the Yen decline in tandem as its ‘safe haven’ appeal waned. Flow in this cross this week will again be heavily influenced by these themes, Australian inflation data tomorrow and the BOJ meeting on Friday add additional cause for volatility. We favour selling rallies in this environment.
  Current Level Support Resistance Last week's range
AUD/YEN 82.00 79.20 83.50 79.23 - 83.49

Friday 22nd January 2:30pm(NZT)
The Australian dollar sits on its highs for the week against the Japanese Yen in present trade. This comes about after the reversal in fortune for the AUD/USD exchange rate towards the latter part of the week as market sentiment improved and safe haven flow towards the JPY waned. Resistance levels for this bounce are eyed around 83.40 and then near 84.00. The weekly lows around 79.20 although distant is key support.
The current interbank midrate is:    AUDJPY 82.70

The interbank range this week has been:    AUDJPY 79.23 - 82.72
Tuesday 19th January 2:00pm(NZT)
Much like the AUDEUR cross, this pair continues to suffer on the back of wider market risk aversion. The past week saw fresh lows of 79.57 trade as a bout of Australian dollar selling swept the market. Initial resistance is now seen coming in around 81.25 and while below that level the focus remains on the downside. We have Chinese fourth quarter GDP data to digest this afternoon and the result is likely to impact the Australian dollar. There is little to get excited about from Japan this week, while from Australia we get consumer confidence and inflation expectations. The main focus however will remain on China, commodities and global equities.
  Current Level Support Resistance Last week's range
AUD/YEN 80.65 79.50 81.25 79.62 - 83.38

Friday 15th January 2:00pm(NZT)
The Australian dollar sits towards the upper end of its weekly range against the Japanese Yen in current trade. Like the other AUD crosses, moves in the AUDJPY this week have been driven by changes in risk sentiment and the resultant AUD/USD exchange rate moves. The safe haven status of the JPY means this cross will usually be even more volatile than the other AUD crosses while this theme dominates. We see more choppy trade ahead next week while investors focus on this issue. First support is eyed below 81.00, the weekly highs near 83.40 may invite some supply but better resistance (weak) should be seen near 84.00
The current interbank midrate is:    AUDJPY 82.70

The interbank range this week has been:    AUDJPY 80.91 - 83.77
Tuesday 12th January 2:00pm(NZT)
The Australian dollar has fallen very sharply against the Japanese Yen in 2016. This is typically the case when investors chase the safe haven appeal of the Yen and abandon ‘risk’ currencies like the AUD during periods of heightened global risk aversion and market volatility like those experienced so far in 2016. Concerns over the Chinese growth outlook have driven the concerns and added further to the heavy selling seen in commodities which persisted through 2015. We favour selling rallies towards 84.00 while this theme plays out. Australian employment data on Thursday is also of note.
  Current Level Support Resistance Last week's range
AUD/YEN 82.15 80.85 83.00 80.91 - 86.35

Tuesday 22nd December 2:00pm(NZT)
The Australian dollar has rebounded from its lows below 86.50 seen last week after the JPY gained post the BOJ monetary policy meeting.  Trade over the holiday period will become increasingly prone to swings brought about by the reducing market liquidity conditions. The various Japanese data events over the coming week should have a limited impact at best. The momentum for now is marginally to the upside, although we lack any real bias and expect moves to be dictated by JPY safe-haven demand and commodity currency pricing sentiment.
  Current Level Support Resistance Last week's range
AUD/YEN 87.18 86.25 88.60 86.23 - 88.43

Friday 18th December 2:30pm(NZT)
The Australian dollar has continued its decline against the Japanese Yen this week. Highs near 88.60 have given way to lower levels on the back of the heavy commodity based currency selling seen overnight. Support around 86.50 is the first test for the current down-swing. Immediate focus for this cross is today’s BOJ monetary policy meeting. Resistance is first eyed near the weekly highs and then above 89.00.
The current interbank midrate is:    AUDJPY 87.28

The interbank range this week has been:    AUDJPY 86.54 - 88.62
Tuesday 15th December 2:00pm(NZT)
The Australian dollar fell heavily against the Japanese Yen since our last report to trade to lows near the 86.50 level yesterday. The losses came about on the back of ‘risk-off’ AUD selling and safe-haven JPY demand as weaker international equity bourses on Friday weighed on risk sentiment. The poor commodity price outlook also pressured commodity prices and commodity currencies. We continue to favour selling the cross in this environment and expect rallies to falter in the 88.80/89.15 region (if reached). The BOJ meeting on Friday and FOMC meeting on Thursday are also very important drivers this week.
  Current Level Support Resistance Last week's range
AUD/YEN 87.77 86.50 89.20 86.54 - 89.65

Friday 11th December 2:30pm(NZT)
The Australian dollar reversed its declines seen against the Japanese Yen from earlier in the week yesterday after the release of better than expected Australian employment data. We favour selling rallies in this weak commodity price environment near yesterday’s highs (89.15) despite this data, especially while the JPY trades with a firmer tone. Risks to this view come from next week’s BOJ monetary policy meeting on Friday. Key resistance lies around 90.70 whilst some support may lie near the weekly lows.
The current interbank midrate is:    AUDJPY 88.60

The interbank range this week has been:    AUDJPY 87.38 - 90.71
Tuesday 8th December 2:30pm(NZT)
The Australian dollar is presently trading with a weaker tone against the Japanese Yen in current trade. Declines from highs around 90.70 seen on Friday have occurred on the back of commodity inspired losses in the AUD. The commodity price environment will continue to be critical for the AUD this week, especially in the lead up to the Australian employment data due for release on Thursday. First support is noted near 89.00, although better support is seen near 88.00 for now.
  Current Level Support Resistance Last week's range
AUD/YEN 89.45 88.00 90.75 89.06 - 90.71

Friday 4th December 2:00pm(NZT)
The Australian dollar remains supported against the Japanese Yen in current trade, although off its highs seen above 90.50. These highs should now form the first resistance, whilst first support should be now seen ahead of 89.00, and then more importantly 88.00. The current momentum for this cross is higher, although we note the strong gains of recent weeks could allow for a more decent retracement from the recent highs. Australian employment data next Thursday looms as an important release next week.
The current interbank midrate is:    AUDJPY 89.90

The interbank range this week has been:    AUDJPY 88.07 - 90.56
Tuesday 1st December 4:00pm(NZT)
The Australian dollar continues to trade well against the Japanese Yen currently. This is despite the soft Australian Q3 CAPEX data released last Thursday and continued weak key commodity prices. Whilst the current momentum is higher further gains will be contingent on the results of the heavy Australian data calendar due this week. This starts with the comments which accompany the RBA cash rate announcement today. Risk sentiment will also be important, especially given Thursday’s ECB meeting.
  Current Level Support Resistance Last week's range
AUD/YEN 89.20 88.00 90.00 88.07 - 89.35

Friday 27th November 2:30pm(NZT)
The Australian dollar currently sits near its opening levels seen against the Japanese Yen this week. Highs around the 89.10 level were seen prior to yesterday’s weaker than expected Australian Q3 CAPEX release. First support is eyed below around 87.95. We lack any bias for next week given the heavy Australian data calendar (RBA cash rate announcement on Tuesday, Australian GDP on Wednesday, and Australian retail sales on Friday) and the retracement seen from the key resistance observed above (89.10/20) at the July 2015 support lows.
The current interbank midrate is:    AUDJPY 88.55

The interbank range this week has been:    AUDJPY 88.11 - 89.11
Tuesday 24th November 3:00pm(NZT)
The Australian dollar has firmed against the Japanese Yen over the last week. It currently sits off its 89.00 Yen highs however, after yesterday’s commodity price inspired fall in the AUD/USD exchange rate. The BOJ monetary policy meeting last week was largely a non-event after no further stimulus was added to the current program. Gains in this cross can be put down to a charge higher in the AUD/USD on position paring after the FOMC minutes towards the end of the week. We cautiously favour higher levels, although resistance levels in the 89.00/40 region are noted.
  Current Level Support Resistance Last week's range
AUD/YEN 88.39 87.95 89.00 87.26 - 89.01

Thursday 19th November 1:00pm(NZT)
It has been an interesting week for this pair. The disappointing GDP numbers in Japan on Monday saw the AUD outperform to start the week. This saw the pair grind higher up towards the initial resistance at 88.00 before back off those highs. The pair continues to trade within the increasingly established 85.50- 88.00 range that has contained trade for the most part of the last six weeks. Later today we get a flood of data from japan followed by the latest BOJ monetary policy decision, albeit no change is expected. Next week there is an absence of Australian economic news, so the focus comes from the Japanese inflation and employment numbers set for release on Friday.
The current interbank midrate is:    AUDJPY 87.85

The interbank range this week has been:    AUDJPY 86.73 - 88.01
Tuesday 17th November 3:00pm(NZT)
The Australian dollar has remained within recent ranges since our last report despite yesterday’s weak Japanese Q3 GDP data release. This has played out in part because of increased uncertainty after the weekend’s terror attacks. Key focus for this pairing this week will be Thursdays BOJ monetary policy meeting. We marginally favour the upside for now, although risks to this view centre on the BOJ meeting and any unforeseen uptick in risk uncertainty.
  Current Level Support Resistance Last week's range
AUD/YEN 87.57 86.50 88.00 86.47 - 87.95

Friday 13th November 2:00pm(NZT)
The Australian dollar has advanced against the JPY this week after yesterday’s strong October Australian employment report release. It sits off its highs seen around 87.95 after some moderate weakness seen in the AUD/USD exchange rate overnight, in part due to waning risk appetite. Key support is around 86.50, resistance is seen near 88.00 and then 88.50. We lack any real bias ahead of next Thursday’s key BOJ meeting.
The current interbank midrate is:    AUDJPY 87.46

The interbank range this week has been:    AUDJPY 86.46 - 87.95
Tuesday 10th November 1:30pm(NZT)
The Australian dollar has eased against the Canadian dollar post the release of a better than expected U.S. employment report on Friday. The increased market expectation of a December Fed rate hike has dampened risk enthusiasm, somewhat placing pressure on the AUD. Better than expected Canadian employment data also released on Friday has helped moderate any CAD underperformance. Australian employment data due for release on Thursday should be watched closely.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9355 0.9300 0.9450 0.9337 - 0.9444

Friday 6th November 1:00pm(NZT)
The Australian dollar has risen against the Yen this week on the back of gains seen by the AUD after the RBA failed to cut rates at Tuesday’s monetary policy meeting. Support is seen around last month’s lows near 85.50 whilst this week’s highs near 87.60 should invite some supply. Better resistance is eyed near the 88.00 level. Today’s RBA minutes and next Thursday’s Australian employment data will be key drivers for this cross over the coming week.
The current interbank midrate is:    AUDJPY 87.00

The interbank range this week has been:    AUDJPY 85.46 - 87.58
Tuesday 3rd November 5:30pm(NZT)
The Australian dollar has fallen sharply against the Yen over the last week as RBA rate cut expectations at today’s meeting have grown. The soft Australian Q3 inflation report and more hawkish than expected U..S. Fed FOMC statement released last week also weighed. Direction for this cross will be dictated by events in Australia this week, a lack of a cut by the RBA should see this cross move beyond 87.00 Yen, whilst a breach of 85.50 exposes lower levels.
  Current Level Support Resistance Last week's range
AUD/YEN 86.50 85.40 88.00 85.46 - 87.66

Friday 30th October 2:30pm(NZT)
The Australian dollar has fallen sharply against the Yen this week and trades near its lows presently. This comes on the back of a weak Australian Q3 inflation report and more upbeat than expected U.S. FOMC monetary policy statement. The BOJ meeting later today and the RBA cash rate meeting on Tuesday will now be pivotal for this cross. Key resistance near 88.00 is now distant, although some selling may now be seen around 86.50. First key support comes in around 85.00. The AUDJPY looks weak for the time being.
The current interbank midrate is:    AUDJPY 85.90

The interbank range this week has been:    AUDJPY 85.53 - 88.07
Tuesday 27th October 4:00pm(NZT)
The Australian dollar bounced from support around 86.00 Yen on Thursday last week, eventually trading up over 88.00 late on Friday evening. Increasing expectation for further easing from the Bank of Japan after this week’s meeting has weighed on the Yen, and this has been a large driver of the crosses gains. The BOJ meeting is on Friday and ahead of that we have Australian inflation data to digest tomorrow. I would expect any dips toward 86.00 to continue to find support in the near term. On the topside there is resistance around 88.60 and then again around 89.20. With a key RBA meeting also looming large next week, look for one of those two topside levels to cap gains for now.
  Current Level Support Resistance Last week's range
AUD/YEN 87.58 86.00 88.60 86.07 - 88.07

Friday 23rd October 1:30pm(NZT)
The Australian dollar has been largely range bound this week against the JPY with gains limited to 87.35 so far, levels between here and 87.50 should continue to provide resistance for the time being (88.60 beyond). Support lies below near 86.00 but the next significant move in this cross will likely come next week’s BOJ meeting on Friday or the Australian inflation data on Tuesday, Wednesday’s FOMC meeting should also invite volatility.
The current interbank midrate is:    AUDJPY 87.22

The interbank range this week has been:    AUDJPY 86.07 - 87.36
Tuesday 20th October 1:25pm(NZT)
The Australian has fallen sharply against the JPY from its early highs (88.60) set at the start of last week. Fresh resistance has now formed ahead of 87.50. The current momentum is for lower levels especially in light of increasing calls for RBA rate cuts post the Westpac rate move. Increasing demand for the Yen has been seen as the market has continued to reduce speculative short JPY positions. Minor support is pegged around last week’s lows just ahead of 86.00
  Current Level Support Resistance Last week's range
AUD/YEN 86.63 86.00 87.50 86.15 - 88.35

Friday 16th October 3:00pm(NZT)
The Australian has fallen sharply against the JPY from its early highs (88.60) set at the start of the week. Softer Chinese trade and inflation data negatively impacted the AUD. Safe haven demand for the JPY has seen increased JPY demand towards the end of the week, limiting the rebound on this cross from its lows this week (~86.10).
These levels form the immediate support and resistance targets, although further resistance is pegged near 89.15. Key to further gains in this cross will be commodity price movements and risk appetite and the relative demand. safe haven appeal of the JPY.
The current interbank midrate is:    AUDJPY 87.03             

The interbank range this week has been:    AUDJPY 86.15 - 88.60 
Tuesday 13th October 2:00pm(NZT)
Commodity price gains and improving global risk appetite have seen the Australian dollar continue to outperform the Yen since our last report. The Yen appears likely to remain within recent ranges against the USD for now. We see the next move for this cross being dictated by Thursday’s Australian unemployment data, although risk sentiment and commodity price movements will also be pivotal. The possibility of further large gains from current levels is likely to be reducing for the time being given the extent of the recent move.
  Current Level Support Resistance Last week's range
AUD/YEN 88.30 87.40 89.15 85.18 - 88.60

Friday 9th October 3:00pm(NZT)
Firming commodity prices and a return of global risk appetite has seen the Australian dollar significantly outperform the Yen this week. From opening levels just above 84.00 it has traded near 87.20 with next resistance now in the 87.40/87.55 area. With the Yen likely to continue to be entrapped in recent ranges against the USD the next move for this cross will be dictated by the Aussie with Thursday’s Australian unemployment data being the focus for fresh impetus, risk sentiment and commodity price movements will also be pivotal.
The current interbank midrate is:    AUDJPY 87.12

The interbank range this week has been:    AUDJPY 83.40 - 87.18
Tuesday 6th October 2:00pm(NZT)
The Canadian dollar has outperformed the Australian dollar this past week. Last week’s better than expected Canadian GDP data has underpinned the CAD along with an improvement in oil prices recently. The Australian dollar on the other hand is being held back by uncertainty around today’s RBA rate statement. Many expect the Reserve Bank will be forced to cut interest rates again over the coming months and if they move to an easing bias at this meeting the AUD will suffer. If however they maintain their current neutral stance the AUD will likely see some appreciation. On the downside there is support around 0.9150 while topside resistance comes in around 0.9400.
  Current Level Support Resistance Last week's range
AUD/CAD 0.9270 0.9150 0.9400 0.9259 - 0.9433

Friday 2nd October 2:00pm(NZT)
After briefly dipping below support around 83.00 on Tuesday, the Australian dollar has put in a solid performance against the Yen trading up to 85.00 last night. The Australian dollar has been supported by better than expected Chinese manufacturing data while in Japan the Tankan survey confirmed the Japanese economy continues to struggle. Taking a look at the broader picture, there has been little overall direction for the past month or so, with prices ranging between the wide parameters of 82.00 to 87.00. The current price is right in the middle of that range. Direction from here is a tough call, but I would suspect further tests of the topside are probably favoured. Any break above 85.00 will open the way for a test of 87.00. Tonight's US employment data will likely add some volatility, then next week the focus in Australia will turn to Tuesday’s RBA rate statement. From Japan next week we get core machinery orders, the current account, average cash earnings, and the economy watchers sentiment index.
The current interbank midrate is:    AUDJPY 84.30

The interbank range this week has been:    AUDJPY 82.85 - 85.04 Supp : 83.00 Resist : 85.00
Tuesday 29th Sept 3:00pm(NZT)
The Australian dollar remains broadly under pressure across the board at the moment and it’s not a mile away from cycle lows on may crosses. Against the Yen the AUD underperformed for much of last week, and when we did see a corrective bounce it failed at the first level of resistance around 85.00. This keeps the near term focus on the AUD downside and the potential for a test of minor support around 83.00. From Australia this week we have building approvals along with retail sales data to digest, but the market will also be paying close attention to Chinese PMI data set for release on Thursday. Another soft result here will see the AUD downside tested. Japanese data this week in the form of retail sales, household spending, unemployment and the quarterly Tankan survey will also draw focus.
  Current Level Support Resistance Last week's range
AUD/YEN 83.35 83.00 85.00 83.00 - 86.11

Friday 25th September 2:30pm(NZT)
The Australian dollar declined against the Japanese Yen throughout much of this week. Soft global equity markets have been one factor with ‘risk off’ sentiment driving the pair in the early stages of this week. The Australian dollar has also underperformed on the back of increasingly negative sentiment around the country's economic prospects. These were only reinforced by the release of another soft Chinese PMI reading. The pair traded as low at 83.00 last night before a small recovery developed. Resistance now seen around 85.00 may well cap this bounce and that would keep the risks focused to the downside. Next week from Australia we have building approvals and retail sales data to draw focus. While from Japan we get retail sales, the quarterly Tankan report, household spending and the unemployment rate.
The current interbank midrate is:    AUDJPY 84.22

The interbank range this week has been:    AUDJPY 83.00 - 86.86
Tuesday 22nd Sept 2:30pm(NZT)
Price action in this part of the past week can be defined by volatile trade with no overall direction. The Australian dollar briefly traded above 87.00 Yen in the immediate aftermath of Friday’s Fed decision, but the move was short lived and since then the local currency has underperformed. If minor support around 85.70 contains the downside in the near term we could see the pair test higher back toward 87.00. Any break below 85.70 would however, turn the near term picture negative. The economic calendar is very light this week from both countries and as such events in the wider market may well continue to dominate.
  Current Level Support Resistance Last week's range
AUD/YEN 85.90 85.00 87.00 84.99 - 87.51

Friday 18th September 2:50pm(NZT)
This morning’s Fed statement provided just the sort of fireworks we had expected and the AUDJPY cross saw plenty of volatility as a result. Overall this week the Australian dollar has appreciated against the Yen, but the spike high we saw this morning at 87.51 was very short lived. In under an hour the cross was trading back below 86.00. We can expect further choppy price action of the coming days, with a continuation of the broad AUD outperformance. Only a sustained break below 85.80 would bring that outlook into question. Next week from Australia we have the house price index and the RBA’s financial stability review set for release. While from Japan we have manufacturing PMI and inflation data to digest.
The current interbank midrate is:    AUDJPY 86.20

The interbank range this week has been:    AUDJPY 84.80 - 87.51
Tuesday 15th Sept 1:30pm(NZT)
The Australian dollar has made significant gains against the Japanese Yen this week, driven higher by better employment data and a broad improvement in iron ore prices. We have the RBA minutes out in the coming hours along with the Bank of Japan monetary policy statement. Neither release is expected to create any real surprise but they will both draw attention. What will create some volatility is the US Fed’s interest rate meeting early Thursday morning, and that makes any predictions of direction in this pairing especially difficult. Minor support toward 84.00 and resistance toward 87.50 market the key levels to watch in the wake of that release.
  Current Level Support Resistance Last week's range
AUD/YEN 86.30 84.00 87.50 82.53 - 86.08

Friday 11th September 2:30pm(NZT)
It has been a very positive week of price action for this pairing with a combination of Australian dollar strength and Yen weakness seeing the cross soar higher. The AUD put in an impressive performance in the wake of yesterday’s employment data while the Yen has suffered on the back of comments from officials about potential further Bank of Japan easing’s. From a low of 82.00 on Monday the cross has so far traded just shy of 86.00. The risks remain skewed to the AUD topside and move toward 88.00 may well develop over the coming week. Next week we have the RBA minutes set for release along with a speech from Governor Stevens to digest. While from Japan we have the BOJ monetary policy statement to draw focus.
The current interbank midrate is:    AUDJPY 85.25

The interbank range this week has been:    AUDJPY 82.00 - 85.89
Tuesday 8st Sept 4:30pm(NZT)
The Australian dollar has continued to underperform the Japanese Yen with a series of lower highs and lower lows over the past two weeks. There is little to suggest the downtrend is coming to an end and it would take a move above resistance around 83.70 to alleviate immediate downside pressure. Until then, expect to see further weakness and a test below 82.00. From Australia this week we have business confidence, consumer sentiment, inflation expectations and employment data to digest. While from Japan this week we get the final reading of GDP, consumer confidence and core machinery orders.
  Current Level Support Resistance Last week's range
AUD/YEN 82.95 81.00 83.70 82.00 - 86.39

Friday 4th September 1:00pm(NZT)
Like many Australian dollar crosses this pair has struggled over the course of the past week. Disappointing Australian data releases, particularly GDP and retail sales, kept the local currency under pressure and against the Yen the AUD has struggled to sustain any meaningful bounce from the 84.00 level. This keeps the immediate focus on the downside and potentially a test down toward 82.00. We do however have the all-important US employment report set for release tonight and this could easily create some real volatility.
The current interbank midrate is:    AUDJPY 83.95

The interbank range this week has been:    AUDJPY 83.65 - 87.31
Tuesday 1st Sept 4:30pm(NZT)
It has been a choppy week of trading for this pair with both currencies seeing periods of pressure. This is one of the few Australian dollar crosses that has completely recovered the losses seen in the wake of last Monday night’s short lived meltdown. That been said there has been little in the way of overall direction and the near term is likely to provide more of the same choppy sideways price action. The Reserve Bank of Australia’s interest rate meeting this afternoon provides the immediate focus, then later in the week we get GDP, retail sales and the trade balance data. From Japan this week we have average cash earnings data on Friday to digest.
  Current Level Support Resistance Last week's range
AUD/YEN 85.75 84.00 88.00 84.21 - 87.31

Friday 28th August 3:00pm(NZT)
A period of heightened market volatility and broad risk aversion sent this pair spiralling lower in the early stage of this week. Big falls in the Chinese stock market, which raised concerns about global stocks, were the catalyst for the move which saw a classic ‘risk off’ scenario develop. The Australian dollar briefly traded below 84.00 Yen before the market regained composure. We have seen a significant recovery develop since then with the pair now test toward the 87.00 area. We could potentially see this recovery extend as far as 89.20 resistance, but that level will provide a tough topside barrier.
The current interbank midrate is:    AUDJPY 87.13

The interbank range this week has been:    AUDJPY 83.50 - 90.60
Tuesday 25th Aug 7:30pm(NZT)
The past 48 hours have been a wild ride for most currency pairs and the AUDJPY is a good example. It opened the week on the back foot trading down through 89.00, before a dramatic further fall in Chinese stock set of a chain reaction in global equities. The result was a wave of risk aversion during which the Yen saw appreciation and the Australian dollar saw pressure. The pair has traded down below 85.00 and although we have seen a bounce from the lows, the risks remain skewed to the downside. The market will continue to be very nervous over the coming days and with reduced liquidity we could easily see more big ranges trading.
  Current Level Support Resistance Last week's range
AUD/YEN 85.45 84.00 88.00 83.50 - 91.70

Thursday 20th Aug 1:30pm (NZT)
After a quiet start to the week the Australian dollar has lost a little ground against the Yen in recent days. Weakness in Chinese stocks pressured the AUD on Tuesday afternoon, but since then the cross has suffered at the hands of wider market volatility, particularly in the wake of US inflation data and the Fed minutes last night. The has been no real direction in this pairing since early July and nothing this week has suggested that is set to change in the near term. Dips below 91.00 provide a buying opportunity while levels toward 92.50 continue to cap the topside.
The current interbank midrate is:    AUDJPY 91.17

The interbank range this week has been:    AUDJPY 90.74 - 92.04
Tuesday 18th Aug 1:30pm(NZT)
Once last week’s volatility in the wake to the Chinese Yuan’s devaluation announcements settled down, this pair resorted to a very tight trading range around the 91.70 level. Near term direction is a very tough call. We have the Reserve Bank of Australia's minutes out in the next couple of hours and these should confirm the bank's current neutral stance. The market however is still pricing in a good chance of an interest rate cut from the RBA before the end of this year. That’s probably fair considering the current outlook for commodities and China, but it won’t take much of an improvement in Chinese data for the market to reassess its outlook. That would suggest there is potential for some Australian dollar upside over the coming months, barring a further deterioration in China. To draw focus from Japan this week we have the BOJ’s interest rate meeting and monetary policy statement on Thursday.
  Current Level Support Resistance Last week's range
AUD/YEN 91.70 91.00 93.00 90.54 - 92.69

Friday 14th Aug 1:00pm(NZT)
Volatility in the wider market, thanks to the surprise Chinese Yuan devaluation, has been a big driver of this pair over the past week. The knee jerk response to China’s move was to weaken the Australian dollar, along with the other commodity currencies, but we have seen a decent recovery from the lows. The pair looks like it wants to test back up over 92.00 and for the time being a range of 90.50 to 92.50 looks likely. All eyes will be on the outcome of the special Japanese cabinet meeting today, which is rumoured to be in response to the Yuan devaluation. The Chinese move certainly increases the chance of further action from the Bank of Japan over the coming months, and this should broadly weigh on the Yen. From Australia next week the focus will be on the RBA’s minutes set for release on Tuesday. While from Japan we have GDP data, the trade balance and the Bank of Japan interest rate meeting.
The current interbank midrate is:    AUDJPY 91.70

The interbank range this week has been:    AUDJPY 90.54 - 92.69
Tuesday 11th Aug 2:30pm(NZT)
The Australian dollar has had a positive week against the Yen and currently trades close to the best levels of the past month. The move started last Tuesday in the wake of the RBA rate statement and was helped along by Australian employment data later in the week. From Japan we had the BOJ meeting on Friday but it held no surprises for the market and the impact on the Yen was negligible. The risks remain skewed to the topside, although direction may well be decided by data over the coming days. From Australia this we get business confidence, consumer sentiment, the wage price index and inflation expectations. While from Japan we have producer prices, tertiary industry activity and core machinery orders data to digest. Look for a range of 92.00 to 94.00 this week.
  Current Level Support Resistance Last week's range
AUD/YEN 92.35 92.00 94.00 90.06 - 92.43

Friday 7th August 11:40am (NZT)
t has been an interesting week for this pair. The AUD saw a strong outperformance on the back of the positive economic data and less dovish RBA monetary policy statement. This pushed the pair higher through some minor resistance levels that now should provide some minor support. Resistance at 92.00 was a step too far for this move, but it remains the vulnerable side of the recent range in the short term. The BOJ monetary policy meeting later today provides the focus in the short term with the accompanying statement to be closely watched. Next week offer passing interest in Australian consumer sentiment and wage price data in Australia. In Japan the latest capacity utilisation and industrial production numbers are of interest, but as usual with Japanese data, should be of limited impact. Again the 92.00 level provides the key to short term direction.
The current interbank midrate is:    AUDJPY 91.60

The interbank range this week has been:    AUDJPY 89.98 - 92.18
Tuesday 4th Aug 1:30pm(NZT)
After bouncing from 89.40 around this time last week, this pair has spent much of the past seven days trading sideways between 90.00 and 91.00. A break out from that range is likely over the coming days however, with a number of key releases to digest. Australian retail sales will soon be followed by the RBA rate statement this afternoon. Then on Thursday Australian employment data is set to hit the wires. While from Japan we have average cash earnings and leading indicators data ahead of the Bank of Japan monetary policy statement on Friday. Any break below 90.00 will target recent cycle lows near 89.20. If the market manages to overcome 91.00 on the topside, look for the move to extend toward 92.30.
  Current Level Support Resistance Last week's range
AUD/YEN 90.15 89.20 91.00 89.37 - 91.01

Friday 31st July 2:00pm(NZT)
The Australian dollar has been under some pressure this week and against the Japanese Yen we saw a move as low as 89.37 on Tuesday afternoon. The market did stage a sharp recovery from that low, but it failed around the 90.80 level and a sideways price action has developed from there. While below minor resistance around 91.00 the risks remain skewed to the downside and we could easily see further tests below 90.00 over the coming week. From Australia next week we have retail sales, the RBA rate meeting, the trade balance and employment data all set for release. While from Japan the focus will be on average cash earnings, leading indicators and the BOJ monetary policy statement.
The current interbank midrate is:    AUDJPY 90.49

The interbank range this week has been:    AUDJPY 89.37 - 91.20
Tuesday 28th July 3:00pm(NZT)
The Australian dollar lost ground to the Japanese Yen this week with sharp declines for the cross back below 90.00. Soft commodities and disappointing Chinese data did the damage for the AUD, and yesterday’s 8.5% plunge in Chinese stocks didn’t help sentiment either. The pair may well have a crack at the 2015 low of 89.12. That level may well contain the downside for now, but longer term the risks remain toward further losses at this stage. RBA Governor Stevens speaks on Thursday and we also have building approvals and producer prices to digest. From Japan this week we have retails sales data, along with household spending and inflation figures set for release.
  Current Level Support Resistance Last week's range
AUD/YEN 89.65 89.00 91.00 89.55 - 92.25

Friday 24th July 1:30pm(NZT)
It has been another week with little in the way of overall direction for this pairing. Support around 91.00 continues to contain the downside, while levels over 92.00 have failed to be sustained on numerous occasions in the past couple of weeks. Direction from here is a tough call, but with the current pressure on commodity prices a break to the down side is probably favoured. From Australia next week we have building approvals, import prices and producer prices data. While from Japan we get retail sales, household spending, inflation and unemployment.
The current interbank midrate is:    AUDJPY 91.15

The interbank range this week has been:    AUDJPY 91.03 - 92.25
Tuesday 21th July 5:00pm(NZT)
There has been no overall direction for this pair over the past week with a tight range around 91.60 developing. Both currencies have seen pressure recently. The Australian dollar has been weighed on by declining commodity prices, while the Yen as drifted lower after the Bank of Japan downgraded growth and inflation forecasts last week. Direction from here is a tough call. If minor support around 91.00 continues to contain the downside a recovery back toward 93.00 could develop. That would be my base case scenario at this stage. A break below 91.00 would however bring that outlook into question.
  Current Level Support Resistance Last week's range
AUD/YEN 91.80 91.00 93.00 91.03 - 92.42

Friday 17th July 1:30pm(NZT)
The Australian dollar has made some gains against the Yen this week with the pair currently trading around 92.00. Broad based Yen weakness has played a major part with the Bank of Japan downgrading their forecasts for growth and inflation this year. There is support around 91.00 and I would expect this to contain any periods of pressure of the coming week. If the cross can overcome resistance around 92.40, then a broader recovery toward 94.00 could well unfold. From Australia we have the minutes from the last Reserve Bank of Australia meeting to draw focus along with the latest reading on inflation. While from Japan the only release of note is the trade balance on Thursday.
The current interbank midrate is:    AUDJPY 92.10

The interbank range this week has been:    AUDJPY 90.31 - 92.42
Tuesday 14th July 4:00pm(NZT)
After trading to fresh cycle lows mid last week this pair has made a significant recovery. The turnaround was triggered by better than forecast Australian employment data on Thursday, but since then an improving risk appetite in the wider market has pressured the Yen. If minor resistance around 92.00 can be overcome the pair will target a move toward 94.00. We do have the Bank of Japan monetary policy statement this week to digest, along with Australian data in the form of consumer sentiment and inflation expectations.
  Current Level Support Resistance Last week's range
AUD/YEN 91.65 94.50 96.30 89.23 - 92.01

Friday 10th July 3:30pm(NZT)
It has been a volatile week for this pairing, with wider market risk aversion driving much of the price action. Concerns around Greece, Chinese stocks and soft commodity prices pressured the pair early in the week. However, we have seen a significant bounce helped by yesterday’s better than forecast Australian employment data. There is still plenty of uncertainty in the market and as such expect more volatility next week. 90.00 to 92.00 looks like a likely range to start the week as events unfold. Next week from Japan the highlight will be the BOJ’s monetary policy statement on Wednesday. While from Australia next week we get business confidence, consumer sentiment and inflation expectations data.
The current interbank midrate is:    AUDJPY 91.30

The interbank range this week has been:    AUDJPY 89.23 - 94.00
Tuesday 7th July 2:30pm(NZT)
Weakness in the Australian dollar has combined with wider market risk aversion to see this pair trade down below 91.00 in early trade yesterday. The relatively calm response in markets to the outcome of the Greek referendum saw the pair quickly bounce back above 92.00, but for now the risks remain to the downside. With the Greek situation far from certain there is plenty of potential for further periods of risk aversion. We also have the RBA rate statement this afternoon to digest and this provides the immediate focus for the market. Later in the week we get Australian employment data, while from Japan we get the current account, core machinery orders and consumer confidence figures.
  Current Level Support Resistance Last week's range
AUD/YEN 91.85 90.50 92.50 90.79 - 94.91

Thursday 2nd July 2:30pm(NZT)
This pair suffered in early trade on Monday as risk aversion swept the market on the back of the Greek referendum announcement. The cross quickly recovered from the 92.79 low however, and spent much of the week trading around 94.30. There is plenty of potential for a repeat of Monday morning after Sunday’s referendum outcome is finally known. That makes any predictions for this pair in the near term extremely difficult. We may get a better idea of potential direction next week with the RBA rate statement and employment change numbers both set for release. While from Japan we get current account, core machinery orders, leading indicators and consumer confidence data to digest.
The current interbank midrate is:    AUDJPY 94.30

The interbank range this week has been:    AUDJPY 92.79 - 95.80
Tuesday 30th June 2:00pm(NZT)
The AUDJPY broke out of its recent range in dramatic fashion early yesterday morning. Weak Chinese stocks had weighed on the AUD heading into the weekend and this had driven the pair toward the lower bound of the range at 94.50. Greek developments then took centre stage and risk aversion was the theme early on Monday. This saw the AUDJPY snap lower to touch 92.79 before recovering somewhat. The pair has failed to get back above 94.50 however, and this keeps the focus on the downside. Expect further volatility over the coming days with a lot of uncertainty still around the long term future of Greece within the Euro. RBA Governor Stevens is due to speak tonight, then later in the week from Australia we get building approvals, the trade balance and retail sales data. While from Japan this week we have average cash earnings data along with the quarterly Tankan report.
  Current Level Support Resistance Last week's range
AUD/YEN 93.91 92.50 94.50 92.79 - 96.11

Friday 26th June 2:00pm(NZT)
It has been a case of ‘Groundhog Day’ for this pair over the past week. The now well defined range of 94.50 to 96.30 continues to keep price action in check, as it has done for nearly three weeks now. It may take some action in the wider market to shake things up, and there is plenty of potential for that with a Greek default and Euro exit a real possibility in the coming weeks. Locally we have a speech from Governor Stevens to digest along with building approvals, trade balance and retail sales data next week. While from Japan we get retail sales, average cash earnings, and the quarterly Tankan report.
The current interbank midrate is:    AUDJPY 95.53

The interbank range this week has been:    AUDJPY 95.10 - 96.11
Tuesday 23th June 2:30pm(NZT)
We have seen no overall direction in this pair for nearly three weeks now. Price action has largely been contained between 94.50 and 96.30 and this week will likely see more of the same. With little scheduled for release from Australia, attention will turn to Japanese data in the form of household spending, inflation and unemployment figures.
  Current Level Support Resistance Last week's range
AUD/YEN 95.35 94.50 96.00 94.96 - 96.30

Thursday 17th June 2:00pm(NZT)
We have seen little in the way of overall direction for this pair in the past week. The Australian dollar continues to chop back and forward around 95.40 to the Japanese Yen, as it has done for nearly two weeks now. Minor resistance around 96.00 has capped the topside, with any weakness run into support around 94.50. We do have the Bank of Japan monetary policy statement out tomorrow afternoon to draw focus and then next week from Japan we get the BOJ minutes along with household spending and inflation data. There is little in the way of key economic data from Australia next week, so unless the Yen decides to make a move we may well see further ranging.
The current interbank midrate is:    AUDJPY 95.30

The interbank range this week has been:    AUDJPY 94.90 - 96.00
Tuesday 16th June 2:30pm(NZT)
We have seen some decent price swings in the pair over the past week, but the reality is the market is little changed from where is was trading two weeks ago. A period of heightened volatility in the wake of Japanese officials comments last Wednesday saw the cross trade to its lows at 94.54, but these were short lived. Look for 94.50 to 96.00 to provide the likely range over the coming week. The risks to that outlook are to the topside with a break above 96.00 opening the way for a move to 97.00. We have the RBA minutes to digest in the next hour, then later in the week we have the Bank of Japan monetary policy statement to draw focus.
  Current Level Support Resistance Last week's range
AUD/YEN 95.85 94.50 96.00 94.54 - 96.03

Friday 12th June 2:00pm(NZT)
Although we haven’t seen any overall direction in this pair over the past week, we have seen some good volatility. Much of it was driven by comments from Japanese officials who sparked a wave of Yen strength on Wednesday afternoon. The officials quickly tried back peddling suggesting they didn’t intend to move the market, but it was way too late. The AUDJPY had briefly traded below 94.60 before recovering. Yesterday's better than forecast Australian employment data then helped to boost the pair back up to where it started the week. Support around 94.50 should continue to contain any periods of weakness with key topside resistance coming in at 97.00. From Japan next week we have the trade balance and the Bank of Japan’s monetary policy statement to digest. While from Australia we just have the RBA minutes Tuesday to draw focus.
The current interbank midrate is:    AUDJPY 95.70

The interbank range this week has been:    AUDJPY 94.54 - 96.33
Tuesday 9th June 2:00pm(NZT)
The Australian dollar traded as high at 96.99 Yen in the first half of last week, but since then the pair has moderated back below 96.00, driven mainly by some soft Australian data. 95.00 to 97.00 may well contain trade this week and selling into periods of strength is the recommended strategy. Australian business confidence data will draw focus this afternoon, then later in the week we get consumer sentiment and employment change data along with a speech from Governor Stevens. From Japan this week we have the economy watchers sentiment, consumer confidence, core machinery orders and tertiary industry activity data.
  Current Level Support Resistance Last week's range
AUD/YEN 95.86 95.00 97.00 94.92 - 96.99

Friday 5th June 1:00pm(NZT)
Movements in the value of the Australian dollar have driven this pair over the course of the week. Early strength on the back of the RBA statement and positive GDP data gave way to broad based AUD selling after yesterday’s poor retails sales and trade balance results. The cross is still higher than where it started the week, although direction from here is as uncertain as ever. There is support around 94.50 and then again around 94.00 which will likely contain any near term weakness. The risks are probably skewed toward another test above 96.00 over the coming week. Next week from Australia we have business confidence, consumer sentiment, inflation expectations and employment change all set for release. While from Japan we get the final reading of GDP, consumer sentiment, core machinery orders, and tertiary industry activity data.
The current interbank midrate is:    AUDJPY 95.69

The interbank range this week has been:    AUDJPY 94.62 - 96.99
Tuesday 2nd June 2:30pm(NZT)
There has been little overall direction in this pair over the past week, apart from a period of weakness in the immediate aftermath of Australia’s disappointing private capital expenditure data. That helped drive the pair to its 94.60 low heading into the weekend. We have seen recovery back above 95.00 in the early stages of this week, driven largely by declines in the Yen, although the pair is now approaching a resistance zone between 95.20 and 95.40 that I would expect to cap any further gains. The immediate focus now turns to this afternoons RBA rate statement which could easily provide some volatility. Later in the week from Australia we have GDP, retail sales, and trade balance data to draw focus. While from Japan this week we just have average cash earnings data out this afternoon to digest.
  Current Level Support Resistance Last week's range
AUD/YEN 95.30 94.00 96.00 94.60 - 95.98

Friday 29th May 2:00pm(NZT)
The past week has seen some choppy price action in this pairing, albeit still within the range of 94.00 to 96.00. The very top of that range was briefly tested yesterday as the Yen was seeing some pressure in the lead up to Australian private capital expenditure data. That data came in much worse than forecast and the Australian dollar was immediately put under the pump. The pair has traded to a low of 94.60 so far and at the risk remains skewed to the downside. Look for a test of 94.00 to develop over the coming week. From Australia next week we have building approvals, GDP, trade balance data, and an RBA rate meeting to digest. While in Japan the focus will be on average cash earning data.
The current interbank midrate is:    AUDJPY 94.72

The interbank range this week has been:    AUDJPY 94.60 - 95.98
Tuesday 26th May 2:00pm(NZT)
The past week has seen a tight range in this pair, interrupted only by a period of Australian dollar weakness on Friday evening. That helped to dive the pair to its 94.94 low and we have only seen a small recovery since then. Look for a range of 94.00 to 96.00 over the remainder of this week, with attention now turning to Australian releases in the form of private capital expenditure and construction work done data, along with a speech from RBA deputy governor Lowe. While from Japan over the coming days we have the BOJ minutes, retail sales, household spending and inflation data to digest.
  Current Level Support Resistance Last week's range
AUD/YEN 95.12 94.00 96.00 94.94 - 96.05

Friday 22nd May 2:00pm(NZT)
The pair has seen very quiet trading conditions over the past week with an increasingly tight range around 95.50 developing. We have the Bank of Japan monetary policy statement this afternoon to digest and maybe that can spark a move, but at this point there’s no indication of which way the market will eventually break. The broader trend of the past six weeks has been to the topside and that may swing the odds in favour of a test higher at some stage, but there is no sign of that just yet. From Australia next week we get data on construction work done along with private capital expenditure. While from Japan we have the trade balance, the BOJ minutes, retail sales, household spending, inflation and industrial production data.
The current interbank midrate is:    AUDJPY 95.60

The interbank range this week has been:    AUDJPY 95.29 - 96.43
Tuesday 19th May 1:00pm(NZT)
This Australian dollar has been in a strong uptrend against the Yen for much of the past month. In the middle of last week the cross traded up to 97.25 before a small pullback ensued. That pullback has found support just above 95.60 and a tight range has developed in the past 24 hours. With nothing to suggest the broader rally is done yet, the immediate focus remains on the topside and another crack toward 97.25. Only a move below 95.60 would call that outlook into question. The immediate focus now turns to the RBA minutes out in the next couple of hours. Later in the week from Australia we have inflation expectations and consumer sentiment data to digest. From Japan this week we have GDP data to draw focus along with the BOJ monetary policy statement.
  Current Level Support Resistance Last week's range
AUD/YEN 95.82 95.60 97.25 94.75 - 97.25

Friday 15th May 1:30pm(NZT)
The Australian dollar has outperformed the Japanese Yen again this week, helped by a reasonable friendly Australian budget release. The pair has seen a decent uptrend develop from levels just over 90.00 that were trading four weeks ago. There is little to suggest the uptrend is running out of steam at this stage and the break above 96.00 this week confirms the risks remain skewed toward further gains. Support around 94.50 should now contain any periods of weakness and buying ahead of that level is recommended. Next week from Australia to drive rates we have the Monetary Policy Meeting Minutes to digest, along with consumer sentiment and inflation expectations data. While from Japan we get data on core machinery orders, tertiary industry activity and GDP. We also have the BOJ monetary policy statement  next Friday.
The current interbank midrate is:    AUDJPY 96.20

The interbank range this week has been:    AUDJPY 94.34 - 97.27
Tuesday 12th May 1:00pm(NZT)
With little in the way of economic releases from Japan over the past week, price action in this pair has been driven by movements in the value of the Australian dollar. In the first half of last week the Australian dollar squeezed higher taking the AUDJPY cross close to 96.00. Since then however the AUD has given back a good portion of those gains thanks to some less than inspiring data. Over recent days the pair has traded sideways around the 94.80 level. 94.00 to 96.00 still looks like a reasonable range to contain the pair in the near term, although we do have Australia’s annual budget release tonight to draw focus. This will be followed tomorrow by Australian wage price index data. From Japan this week we get leading indicators, the current account, economy watchers sentiment, and consumer confidence.
  Current Level Support Resistance Last week's range
AUD/YEN 94.87 94.00 96.00 93.72 - 95.90

Friday 8th May 1:30pm(NZT)
With a Japanese holiday in the first half of the week we have had little in the way of Japanese focused data to drive the Yen. The Australian dollar however, has had a volatile week making strong gains in the wake of the RBA’s decision to cut interest rates by 0.25%. A significant short squeeze developed after that announcement, and this helped to drive the pair all the way to 95.90. The AUD has drifted lower since then with the pair now trading around 94.50. If we see a break back below 94.00, the pair could easily target the next level of support around 92.00. Next week from Australia we have NAB business confidence, the annual budget release, home loans and the wage price index. While from Japan we have leading indicators, current account and consumer confidence data to draw focus.
The current interbank midrate is:    AUDJPY 94.55

The interbank range this week has been:    AUDJPY 93.72 - 95.90
Tuesday 5th May 2:00pm(NZT)
After surging to just under 96.00 mid last week, this pair quickly fell back to 94.00 as the market became more confident about a potential interest rate from the Reserve Bank of Australia. That central bank decision will be released later this afternoon and is the main risk event for the pair this week. A cut from the RBA will see the pair test lower, perhaps as far as 92.00 over the coming days. A ‘no change’ decision from the RBA would be a surprise and see the AUD jump significantly higher. Later in the week from Australia we have retail sales and employment data to draw focus. While the economic calendar is looking pretty light from Japan this week with just the Bank of Japan minutes of any note.
  Current Level Support Resistance Last week's range
AUD/YEN 94.17 93.00 95.00 93.37 - 95.95

Friday 1st May 2:45pm(NZT)
The Australian dollar surged higher against the Japanese Yen in the first half of the week. Strength in the local currency was driven by improving iron ore prices and increasing doubt about an interest rate cut from the RBA next week. We have however seen the market pullback significantly in the past 24 hours thanks in large part to a newspaper article promoting the chances of an interest rate cut from the central bank next week. That RBA decision on Tuesday will be the main focus for the market, and will the result too close to call, we should get a decent reaction in the AUD either way. On Thursday from Australia we also have employment data to digest, while in Japan the economic calendar is very light with on the BOJ minutes of any note. While the market holds above support around 94.00 the risks remain skewed toward another attempt higher. A break below 94.00 would turn the outlook negative and would open the way for a move back toward 92.00
The current interbank midrate is:    AUDJPY 94.35

The interbank range this week has been:    AUDJPY 92.86 - 95.95
Tuesday 28th Apr 3:30pm(NZT)
This pair is looking to move higher after breaking above the 93.20 level that had capped trading from all of April. There is resistance around 94.00 ahead of the March high at 94.72. The Australian dollar is benefiting from growing uncertainty around the expectation for a cut from the Reserve Bank of Australia when they meet next week. That rate meeting is the main focus for the market at the moment, although we do have data this week to digest in the form of import prices, private sector credit, and producer prices. From Japan this week we have the BOJ monetary policy statement on Thursday along with a rash of other data on Friday. I would expect 94.72 to cap gains in the near term and selling ahead of there is recommended for an eventual pullback toward 92.00.
  Current Level Support Resistance Last week's range
AUD/YEN 93.71 90.00 94.00 91.75 - 93.77

Friday 24th Apr 2:00pm(NZT)
It has been a relatively stable week for this pairing, apart from a period of Australian dollar weakness triggered by comments from RBA Governor Stevens. Stevens did his best to talk the Australian dollar down, but his efforts were undone by a stronger than expected Australian inflation result and this returned the pair to the 93.00 level where it’s looked comfortable for much of the week. If the pair can break above 93.20 we will likely see an extension toward 94.00. Next week from Australia we will hear from Governor Stevens again ahead of Australian producer prices data. While from Japan we have the BOJ rate meeting along with retail sales, industrial production, household spending, inflation and employment data.
The current interbank midrate is:    AUDJPY 92.92

The interbank range this week has been:    AUDJPY 91.75 - 93.21
Tuesday 21st Apr 3:30pm(NZT)
The pair looks set to continue to see significant swings between the broad parameters of 90.00 and 94.00. The cross managed to briefly test levels over 93.00 late last week after better than expected Australian employment data, but a sharp pullback has ensued since then. RBA Governor Stevens did his best to talk the local currency down last night and this resulted in further losses. Near term risks are skewed to the downside and a potential test back below 91.00. We have Australian inflation data tomorrow to draw focus while from Japan the trade balance will also warrant attention.
  Current Level Support Resistance Last week's range
AUD/YEN 91.80 90.00 94.00 90.48 - 93.19

Friday 17th Apr 1:00pm(NZT)
Since early February this pair has been largely contained with the broad parameters of 90.00 to 94.00. There have been some big swings within that range and the past week was no exception. Early weakness in the Australian dollar on the back of poor Chinese trade data saw the pair down to 90.48 but we have seen a sharp recovery since then driven in large part by yesterday better than forecast Australian employment number. Japanese data this week has had little impact although the recent announcement of significant wage hikes for 62 large companies should help to improve the longer term outlook for the Yen. Look for the pair to continue to trade within this increasingly familiar range over the coming week. Next week from Australia we have the minutes from the last RBA meeting along with the latest reading of inflation. While from Japan we only have the trade balance of any note.
The current interbank midrate is:     AUDJPY 92.62

The interbank range this week has been:     AUDJPY 90.48 - 93.05
Tuesday 14th Apr 2:30pm(NZT)
For much of last week the Australian dollar saw grinding appreciation over the Japanese Yen. The gains were triggered by the RBA decision to leave interest rates unchanged and the pair eventually traded up to 93.05, before pulling back slightly heading into the weekend. That pullback has extended significantly in the past 24 hours thanks to weakness in the AUD and comments from a Japanese official. The AUD saw pressure yesterday in the wake of very poor Chinese trade balance data. Then last night the Yen saw increased demand after an advisor to MP Abe suggested the appropriate rate to the USD would be around 105, not above 120 where is was actually trading. The AUDJPY cross fell all the way to 91.00 before finding support. I suspect we may now see a recovery back to at least 91.80. Key data this week to watch will be Australian employment numbers on Thursday.
  Current Level Support Resistance Last week's range
AUD/YEN 91.28 91.00 93.00 90.56 - 93.05

Friday 10th Apr 1:45pm(NZT)
Like most Australian dollar crosses, this pair took off on Tuesday in the wake of the RBA’s decision to keep interest rates on hold, and it hasn’t looked back. After the initial spike higher a relentless grinding appreciation developed and this has taken the pair to just under 93.00 so far. We are yet to see any signal that the move is running out of steam, and test of 93.50 or 94.00 could well unfold over the coming week. Earlier this week the Bank of Japan failed to deliver any surprises in its regular policy meeting or with the release of its monthly report. Next week from Japan we have core machinery orders, the BOJ minutes, revised industrial production and consumer confidence data. While from Australia next week we get the latest readings on business confidence, consumer sentiment, inflation expectations and unemployment change.
The current interbank midrate is:    AUDJPY 93.04

The interbank range this week has been:    AUDJPY 90.56 - 93.05
Tuesday 31st Mar 2:30pm(NZT)
This pairing has seen the Australian dollar under real pressure from the YEN over the last week. The pressure has been relentless and comes on the back lower iron ore prices and further concerns of the profile of growth in the Chinese economy. For the time being the support at 91.50 has curbed further AUD weakness. In the absence of top tier economic data in Australia this week, the driving for with come from the commodity market performance and the results from the Japanese Tankan report due tomorrow. If the support level continues to hold the 91.50-93.50 range should establish itself for the remainder of the week.
  Current Level Support Resistance Last week's range
AUD/YEN 92.00 91.50 93.50 91.66 - 94.67
 
Friday 27th Mar 1:30pm(NZT)
The Australian dollar break above 94.00 Yen in the early stages of this week proved relatively short lived and in the past 48 hours the pair has corrected back toward 93.00. This brings into question the potential for further gains and we may well see the pair stuck back in the broad 92.00 to 94.00 range that has dominated price action from much of this month. We do have a raft of Japanese data out in the coming hours and these could set the tone for price action over the coming days. From Australia next week we have private sector credit, building approvals, and the trade balance set for release. While from Japan next week we have industrial production, average cash earnings, and the quarterly Tankan report.
The current interbank midrate is:    AUDJPY 93.32

The interbank range this week has been:    AUDJPY 92.36 - 94.67
Tuesday 24th Mar 12:30pm(NZT)
The Australian dollar has made solid gains against the Japanese Yen this week, driven higher by volatility in the wake of the FMC rate statement. The pair has managed to sustain a break above resistance around 94.00 and this opens the way for potential gains toward 96.20. There is minor resistance around 95.30 which will provide the initial topside barrier, but the strength of the move so far suggests that level could well be overcome. The RBA’s Assistant Governor Edey is due to speak later this afternoon and tomorrow we have the RBA’s Financial Stability Review. While from Japan this week on Friday we get household spending, inflation, unemployment, and retail sales data.
  Current Level Support Resistance Last week's range
AUD/YEN 94.38 94.00 96.30 92.02 - 94.58

Thursday 19th Mar 2:45pm(NZT)
This pairing has traded a relatively contained range over this week. Little impact has been seen on either currency by the releases that have come to light and the lead has come from the wider market considerations for the most part. Certainly the expected 92.00 - 94.00 range has contained the price action and the relative performances to the US dollar will further provide the lead over the coming week. If the USD remains under pressure and equity markets remain in demand, the pair should pressure the resistance at 94.00 at some point. However, with the current downbeat domestic Australian sentiment, consolidation through the 94.00 is far from certain.
The current interbank midrate is:    AUDJPY 93.11

The interbank range this week has been:    AUDJPY 92.07 - 93.81
Tuesday 17th Mar 3:00pm(NZT)
The past week has seen a continuation of choppy price action for this pair, but little overall direction. The broad parameters of 92.00 to 94.00 have contained price action for much of the past month and I expect more of the same over the coming week. The immediate focus is on the Reserve Bank of Australia minutes set for release today. The market is expecting these to confirm the bank remains on course to cut rates again over the coming months, and this should pressure the AUD to a degree. This will be followed by the Bank of Japan monetary policy statement is set to hit the wires later this afternoon. The BOJ are expected to leave policy setting unchanged.
  Current Level Support Resistance Last week's range
AUD/YEN 92.75 92.00 94.00 91.80 - 93.58

Friday 13th Mar 12:30pm(NZT)
After a period of weakness through the middle of the week, the Australian dollar has seen a sharp turnaround against the Japanese Yen. The pair bounced from below 92.00 to a high of 93.57 so far. It seems likely some further appreciation is on the cards and a test of resistance around 94.00. Buying AUD into dips is therefore recommended. Next week from Japan we have the BOJ monetary policy statement and press conference, trade balance data, and the BOJ’s monthly report. While from Australia we only have new vehicle sales, the RBA minutes, and the leading index to digest.
The current interbank midrate is:    AUDJPY 93.46

The interbank range this week has been:    AUDJPY 91.80 - 94.15
Tuesday 10th Mar 2:30pm(NZT)
The Australian dollar has spent much of the past two week trading sideways against the Japanese Yen between the parameters of 93.00 and 94.00. The pair did manage a very brief flurry above 94.00 on Friday evening during volatile trading in the immediate aftermath of US employment data, but the quick reversal suggests it was more of an aberration, than a signal of further strength. With resistance around 94.00 therefore still effectively intact, the risks are growing for a pullback toward 92.00. From Australia this week we have consumer sentiment, inflation expectations, and employment change data to digest. While from Japan we get core machinery orders, tertiary industry activity, and consumer confidence data.
  Current Level Support Resistance Last week's range
AUD/YEN 93.20 92.00 94.00 92.94 - 94.15

Friday 6th Mar 2:00pm(NZT)
The Australian dollar has maintained a firm footing against the Japanese Yen this week. The pair has been capped just below the 94.00 level, having tested there a number of times. Any break above 94.00 will certainly open the way for further gains potential toward 96.00 initially. But the repeated failures to overcome 94.00 has increased the chance of a pull back toward 92.00. Next week from Australia we get business confidence, consumer sentiment, inflation expectations and employment change data. While from the US we have retail sales, producer prices, and consumer sentiment data to look forward to.
The current interbank midrate is:    AUDJPY 93.48

The interbank range this week has been:    AUDJPY 92.74 - 93.91
Tuesday 3rd Mar 2:30pm(NZT)
After peaking just shy of 94.00 late last week this pair has traded sideways treading water around the 93.30 level. Some softer than forecast data from both countries late last week has reinforced the sideways trade with the market now keenly focused on the RBA rate decision this afternoon. That RBA decision will be the key event that drives prices over the coming days. It is a very close call whether they cut or not and as such there should be some significant volatility around the announcement. Later in the week from Australia we get GDP data, retails sales, and the trade balance. From Japan this week the only data of note is average cash earnings also set for release this afternoon.
  Current Level Support Resistance Last week's range
AUD/YEN 93.20 92.00 94.00 92.44 - 93.97

Friday 27th Feb 1:00pm(NZT)
The Australian dollar has made incremental gains against the Japanese Yen this week. The pair traded up to just shy of 94.00 on Wednesday, but the gains were reversed after yesterday’s disappointing Australian private capital expenditure data. There is minor support around 92.50 and while that contains the downside, the risks remain skewed to further gradual appreciation. We have a slew of Japanese data out this afternoon and this could well drive price action heading into early next week when we get Japanese average cash earnings figures. Key to direction next week however, will be the outcome of the finely balanced RBA interest rate decision on Tuesday afternoon. Once the RBA decision is out of the way we still have Australian GDP, retail sales, and the trade balance to digest.
The current interbank midrate is:    AUDJPY 93.20

The interbank range this week has been:    AUDJPY 92.44 - 93.97
Tuesday 24th Feb 2:30pm(NZT)
The Australian dollar has seen a very slight upside bias against the Japanese Yen recently. The pair again tested levels above 93.00 this past week briefly trading to 93.54 before correcting lower. With support now seen around 92.00 the pair could easily build a base for another test higher. It is slow going however, and those looking to purchase Yen should take advantage of any periods of strength in the cross. A range of 92.00 to 94.00 should contain the pair over the coming week. The main focus in Australia this week will be on private capital expenditure data due out on Thursday. While from Japan we have household spending, inflation, industrial production, and retail sales data to digest.
  Current Level Support Resistance Last week's range
AUD/YEN 92.80 92.00 94.00 91.69 - 93.54

Thursday 19th Feb 2:30pm(NZT)
The Australian dollar gained some ground against the Yen this week, even trading above 93.00 resistance for a time. Disappointing Japanese GDP helped to drive the pair higher as did the RBA minutes that have seen rate cut expectations push back a touch. The cross has traded a reasonably tight range for much of this month and I expect more of the same over the coming week. Support toward 92.00 should contain the downside, while resistance around 94.00 is likely to cap any near term gains. From Australia we have private capital expenditure data to draw focus, while from Japan we have the BOJ minutes, household spending data, inflation, industrial production, and retails sales figures.
The current interbank midrate is:    AUDJPY 92.75

The interbank range this week has been:    AUDJPY 91.44 - 93.36
Tuesday 17th Feb 3:30pm(NZT)
We have seen little in the way of a recovery from this pair since the sharp losses posted in the wake of last Thursday’s Australian employment data. The cross traded in a tight range around 92.00, and more of the same is expected in the very near term. Initial resistance around 93.00 is key and while below there the risk remain skewed to further weakness. There is little in the way of economic data set for release from Australia for the remainder of the week, while from Japan we have the BOJ monetary policy statement to digest tomorrow, then on Thursday we get trade balance data.
  Current Level Support Resistance Last week's range
AUD/YEN 92.24 91.00 93.00 91.44 - 93.09

Friday 13th Feb 2:30pm(NZT)
This pair saw a relatively quiet trading range punctuated by some sharp losses in the wake of yesterday’s Australian employment data. This saw prices trade below 92.00 for a time, but the pair has since managed to recover that level. The bigger picture shows there has been little real direction in the cross for the past two week and further ranging between 91.00 and 93.00 is likely in the near term. From Australia next week we have the minutes from the latest RBA meeting to digest. While from Japan we have GDP data, the Bank of Japan Monetary Policy Statement, and the trade balance to draw focus.
The current interbank midrate is:    AUDJPY 92.13

The interbank range this week has been:    AUDJPY 91.44 - 93.09
Monday 9th Feb 4:00pm(NZT)
After trading down to 89.42 in the wake of last week’s interest rate cut from the RBA, this pair has put in a sustained bounce. The latest leg higher came on Friday night after US employment data hit the wires with the Australian dollar briefly trading over 93.00 Yen. The pair could trade as high as 94.00 without threatening the broader down trend that has been in play since November last year. Selling ahead of 94.00 is therefore recommended for those looking to purchase Yen. There are plenty of local releases to draw attention this week with a speech from RBA Governor Stevens today followed over the coming days by business confidence, consumer sentiment, inflation expectations and employment change. From Japan we have current account and consumer confidence data today, then later in the week we get tertiary industry activity and core machinery orders.
  Current Level Support Resistance Last week's range
AUD/YEN 92.44 92.00 94.00 89.42 - 93.09

Thursday 5th Feb 2:30pm(NZT)
We have seen some big swings in this pair over the past week, but the net result is that the cross is only a little bit weaker than where it ended last week. The RBA’s decision to cut rate sent the pair to its 89.42 low, but somewhat surprisingly this was very short lived. A recovery in commodity prices helped the AUD stage a significant recovery which took the pair back up over 92.00 for a time. Since late November however, the broader trend in this pair has been to the downside and this week’s price action has done nothing to change that. Selling into periods of strength remains the favoured play. From Australia next week we get readings on business confidence, consumer sentiment, inflation expectation and employment change. While from Japan, we get data on consumer confidence, tertiary industry activity and core machinery orders.
The current interbank midrate is:    AUDJPY 90.80

The interbank range this week has been:    AUDJPY 89.42 - 93.28
Tuesday 3rd Feb 4:00pm(NZT)
The past two weeks have seen sharp losses for this pair and there is no sign yet of a bottom forming. Although losses have stall over the past few days, the cross has failed to recover above the 92.00 level and this keeps the focus on the downside. The market is waiting to see the outcome of today’s RBA rate meeting and this will be the key to near term direction. It is a close call whether the central bank cuts or not and as such we could get a significant reaction in the AUD either way. A sustained break above 92.00 will target a move toward 94.00. If the RBA do cut interest rates, expect quick test toward 90.00 and potentially 88.00 further out.
  Current Level Support Resistance Last week's range
AUD/YEN 91.57 90.00 92.00 90.59 - 94.60

Friday 30th Jan 2:00pm(NZT)
The Australian dollar has struggled this week as commodity currency in general came under pressure, and the risk of an RBA rate cut on Tuesday weighed. The pair traded down to 91.40 last night and the reality is this week’s move is just the latest down leg of a trend that started toward the end of November from just above 102.00. There is little sign yet that the trend is nearing an end, and so while we may get a corrective bounce potentially as high as 94.00, this will likely just provide a good selling opportunity. We have a raft of Japanese data releases this afternoon, then next week the focus turns to Tuesday’s RBA meeting.
The current interbank midrate is:    AUDJPY 91.99

The interbank range this week has been:    AUDJPY 91.40 - 95.36
Tuesday 27th Jan 4:30pm(NZT)
Weakness in the Australian dollar has been the key driver of this pair over the past two and a half weeks. The iron ore prices recently trading to five year lows and little in the way of a recovery expected this year, the AUD has suffered. The cross touched 92.20 in thin trade early on Monday morning, but we have seen a decent bounce from those lows. The prospect of further dips can’t be ruled out although support around 92.00 should prove to be a decent barrier. On the topside resistance comes in around 95.00 and those two levels may well contain trading over the coming week. Australian inflation data tomorrow will be closely watched, and then on Friday we get producer prices. While from Japan retail sales and inflation data will also draw attention, but the impact from Japanese data can often be very muted.
  Current Level Support Resistance Last week's range
AUD/YEN 93.70 92.00 95.00 92.20 - 97.37

Friday 23th Jan 2:00pm(NZT)
The Australian dollar has lost ground to the Yen this week. The most dramatic move came in the wake of the surprise rate cut announcement from the Bank of Canada. The Canadian dollar got hammered and the other commodity bloc currencies of the NZD and AUD followed suit. The drove the AUDJPY cross down toward 95.00 from the 96.50 level it was trading prior. There has been little in the way of a recovery for the pair so far, although with current market volatility we could easily see a move back up over 96.00. The broad parameters of 95.00 to 97.00 could well contain the pair over the coming week. Next week from Japan we have inflation and retail sales data to draw focus. While from Australia next week we get business confidence, inflation, and producer prices data.
The current interbank midrate is:    AUDJPY 95.23

The interbank range this week has been:    AUDJPY 94.85 - 97.37
Tuesday 20th Jan 3:30pm(NZT)
Volatility in the wider financial markets has been the main driver of this pair over the past few weeks. The Japanese Yen has benefited from safe haven flows during these periods of heightened volatility and this has helped drive the AUDJPY cross down below 96.00 on a number of occasions. The immediate risks remain skewed to the downside although there is strong support toward the 94.00 level and this should contain any periods of near term weakness. From Australia over the coming days we have consumer sentiment and inflation expectations data to digest, while from Japan this week we have the BOJ meeting and then monthly report to draw focus.
  Current Level Support Resistance Last week's range
AUD/YEN 96.85 94.00 97.00 94.25 - 96.99

Friday 19th Dec 1:00pm(NZT)
The Australian dollar saw pressure from the Japanese Yen in the first half of this week, with the pair trading down to a 95.26 low. Continued volatility in commodity prices and a fall in Chinese factory activity have weighed on the AUD, but in the past 36 hours we have seen something of a recovery driven largely by weakness in the Yen. The cross has managed to trade back up over 97.00 and we can expect further volatile trading over the coming weeks, potentially exaggerated by the thin liquidity of the holiday period. There is a strong band of support between 95.00 and 94.00 and I expect this to contain any potential weakness between now and early January. We have the Bank of Japan monetary policy statement out later this afternoon, although no change in policy stance is expected. There is also plenty out next week with the BOJ minutes, household spending, inflation, industrial production, retail sales and average cash earnings all set for release.
The current interbank midrate is:    AUDJPY 97.11

The interbank range this week has been:    AUDJPY 95.26 - 98.53
Tuesday 16th Dec 4:00pm(NZT)
The Japanese Yen has outperformed the Australian dollar this week, continuing the pair’s correction lower. The AUD has struggled as commodities have continued to decline while the Yen benefited from some risk aversion on the back of weak global stock markets. There is support toward 96.50 and perhaps with the current low of 96.63, that corrective target has effectively been achieved. If that proves to be the case the pair could stage a significant bounce from current levels. A break above 97.60 would likely confirm a low has been put in place and signal further gains are likely. There is now no data of significance released in Australia until next year. While from Japan the focus now turns to Friday’s BOJ monetary policy statement.
  Current Level Support Resistance Last week's range
AUD/YEN 96.80 96.50 99.50 96.63 - 100.20

Thursday 4th Dec 3:30pm(NZT)
A resurgent Japanese YEN has maintained pressure on the Australian dollar this week. After such a torrid time of late, there was always going to be some kind of correction, and this is what has played out this week. The move from 101.20 down to touch 98.00 was almost one way as the relentless move played out. Today’s better than expected Australian employment numbers have tempered the trend for the time being, and the current levels will no doubt prove crucial for a lead in direction for the short term. Consolidation through 98.00 opens up the way for investigations of the support at 97.00. Next week the Japanese economic data landscape is shaped by the Taken surveys released on Monday and the BOJ’s monetary policy meeting on Friday. Of course the election will be of importance, but if the polling plays out, Prime Minister Abe should receive a mandate to continue with his intended policy initiatives. In Australia the RBA monetary policy meeting minutes on Tuesday will offer interest ahead of the mid-year fiscal outlook on Thursday.
The current interbank midrate is:    AUDJPY 98.60

The interbank range this week has been:    AUDJPY 97.81 - 101.37
Tuesday 9th Dec 3:30pm(NZT)
This pair showed little in the way of overall direction for much of the past week, although in the past 24 hours a solid downside attempt has unfolded. This weakness in the pair comes in the face of a further negative revision to Japanese GDP released yesterday along with a drop in manufacturing confidence. It seems a bout of profit taking on the USDJPY has flowed over into other pairs and helped the AUDJPY to tentatively test levels below 100.00. Still to come this week from Japan we have consumer confidence, core machinery orders and tertiary industry activity data. While from Australia we have consumer confidence and employment data set for release. If we do see a decisive break below 100.00 there is potential for a broader pullback to develop toward the 98.50 level.
  Current Level Support Resistance Last week's range
AUD/YEN 99.70 98.50 101.50 99.90 - 101.37

Thursday 4th Dec 3:30pm(NZT)
The Australian economic news has dominated the focus for this pair so far this week. With the mixed form of the data releases and the relatively balanced RBA statement, there have been brief periods of action, bounded by mostly sideways trade. With initial resistance now in place around the 101.30 area, the support level remains at 100.00 for the time being. Next week sees the Australian news continue to dominate in the absence of any top tier Japanese news. The primary focus comes in the form of the employment numbers on Thursday. The momentum to the upside in the favour of the Australian dollar has certainly waned. It would not surprise to see a trend further range trading develop in the coming months.
The current interbank midrate is:    AUDJPY 100.70

The interbank range this week has been:    AUDJPY 99.99 - 101.33
Tuesday 2nd Dec 1:30pm(NZT)
The past week has seen mostly sideways price action in this pair between the parameters of 100.00 and 101.00. Early last week prices pulled back from the recent cycle highs of 102.84, and since then trading has been relatively quiet. Direction from here is a tough call. The strong gains seen in the first half of November have stalled, and if the pair breaks below 100.00 a deeper pullback to 98.00 will likely unfold. While the pair holds above 100.00 however, another attempt toward 102.84 could slowly develop. From Australia today we have building approvals and the RBA rate statement to digest. Then later in the week we get GDP and retail sales data. While from Japan we have average cash earnings data this afternoon to digest and then leading indicators on Friday.
  Current Level Support Resistance Last week's range
AUD/YEN 100.37 100.00 102.00 99.94 - 102.01

Friday 28th Nov 1:00pm(NZT)
Early in the week this pair broke below key trend support around 102.00 and quickly fell all the way to 100.00. The move was largely as a result of Australian dollar weakness with the local currency losing ground across the board. The AUD was weighed on by declining iron ore prices, which hit a five year low, along with negative comments from the RBA’s Deputy Governor who suggested rate cuts weren’t off the table. There is certainly potential for this pullback to extend all the way toward 98.00, before running into strong support. Buying into such a pullback is recommended with the Yen likely to remain broadly under pressure over the coming months. From Australia next week there is plenty to digest with GDP, the RBA rate meeting, building approvals, retails sales and the trade balance all set for release. While from Japan the only data of note comes in the form of average cash earnings.
The current interbank midrate is:    AUDJPY 100.50

The interbank range this week has been:    AUDJPY 99.94 - 102.85
Tuesday 25th Nov 3:30pm(NZT)
The past week has seen the recent strong uptrend in this pair stall somewhat, in line with weakening momentum indicators. We did briefly trade to fresh highs in the wake of the surprise Chinese rate cut announcement on Friday, but these were short lived. There is now potential for a significant pullback, perhaps toward 98.50, before the rally resumes. Tomorrow from Australia we get data on construction work done data and on Thursday we have private capital expenditure figures to digest. While from Japan, BOJ Governor Kuroda is due to speak this afternoon and later in the week we get data on household spending, inflation, unemployment and retail sales.
  Current Level Support Resistance Last week's range
AUD/YEN 101.50 100.00 103.00 101.35 - 102.85

Friday 21st Nov 1:30pm(NZT)
The Australian dollar has failed to make fresh gains against Japanese Yen this week, aside from a brief spike above 102.20 in thin trading conditions early on Monday morning. The failure to continue what has been a very strong rally over the past month does warn that momentum is starting to wane. That doesn't mean we won’t see further gains, but they will now be harder fought and there is a much bigger chance of a significant corrective pullback. Key trend support around 101.20 is the level to watch, with any break below there likely to solicit further selling. This could see the pair back down to 100.00 or even 99.00 in a very short time frame. The Australian dollar has been weighed on this week by a speech from RBA Governor Stevens that suggested monetary policy could be on hold of a very long time due to the subdued nature of wage and jobs growth. While the Yen has remained under pressure in the wake of PM Abe’s announcement to delay the next sales tax hike and dissolve parliament. Next week from Australia we have private capital expenditure data and the Treasuries mid-year fiscal outlook to digest. While from Japan we get the BOJ minutes, household spending, inflation, industrial production and retail sales data.
The current interbank midrate is:    AUDJPY 101.95

The interbank range this week has been:    AUDJPY 100.79 - 102.37
Tuesday 18th Nov 3:00pm(NZT)
It has been another week of relentless gains for this pair, which has been largely driven by further Yen weakness. There is potential for volatility over the coming days with the market primed for an announcement from Japanese PM Abe. Speculation is that along with delaying the next planned sales tax hike, he will call a snap election for mid-December. The past four weeks have seen a strong uptrend develop in this pair and this keep the immediate focus on the topside. That will remain the case until the market break below trend support that is currently around 100.00. Tonight we have a speech from RBA Governor Stevens to digest and tomorrow we have the Bank of Japan rate meeting.
  Current Level Support Resistance Last week's range
AUD/YEN 101.60 100.00 103.00 98.99 - 102.37

Friday 14th Nov 1:30pm(NZT)
The past week has seen further gains for this pair which have largely come on the back of Australian dollar strength. The AUD has been supported by solid business conditions data and news of a free trade deal with China. The Yen itself has lost further ground across the board over the past five days, but not to the same extent as the previous week. Trying to call a top to a move this strong is never a good idea. At some stage we will see a corrective pullback, but that will likely just provide a good buying opportunity. As long as the market holds above support now seen at 98.90, the risks remain skewed to further gains. The focus in Australia now turns to the RBA's minutes set for release on Tuesday, just ahead of the Treasuries mid-year economic and fiscal outlook. While from Japan we have GDP data and the Bank of Japan’s (BOJ) Monetary Policy Statement.
The current interbank midrate is:    AUDJPY 100.80

The interbank range this week has been:    AUDJPY 98.50 - 101.21
Tuesday 11th Nov 2:00pm(NZT)
The Japanese Yen has seen continued pressure ever since the Bank of Japan’s surprise easing at the end of October. This has driven the cross up to a high again the AUD to 99.71 so far. We did see a period of Australian dollar underperformance mid last week, but the weakness was limited to 98.00 and the cross has since recovered. Expect 98.00 to continue to contain the downside with a test toward the psychological level of 100.00 likely over the coming weeks. Still to come this week from Australia we have business confidence, consumer sentiment, the wage price index and inflation expectations. From Japan this week we have tertiary industry activity and core machinery orders data to digest.
  Current Level Support Resistance Last week's range
AUD/YEN 99.10 98.00 100.00 98.07 - 99.71

Friday 7th Nov 1:30pm(NZT)
Since surging higher last Friday in the wake of the surprise easing from the Bank of Japan, this pair has remained largely range bound. It currently trades close to where it was this time last week, although we have seen strength toward the 99.70 level which came in the wake of stronger than expected Australian retail sales data. Buying dips toward 98.00 is favoured for an eventual push higher and a test of the psychological 100.00 level. There is plenty of potential for volatility tonight with key US employment data set for release. Next week from Australia we get business confidence and consumer sentiment data to digest along with the wage price index, and inflation expectations. While from Japan we have the current account, tertiary industry activity and core machinery orders to draw focus.
The current interbank midrate is:    AUDJPY 98.60

The interbank range this week has been:    AUDJPY 96.36 - 99.71
Tuesday 4th Nov 2:30pm(NZT)
The Australian dollar was seeing only gradual gains against the Yen up until Friday last week when the Bank of Japan surprised the market. No one was expecting further easing from the central bank, but that is exactly what they delivered. The market’s reaction was swift with the Yen coming under intense pressure. This drove the cross to the Australian dollar up over 99.00 and the Yen is likely to remain on the back foot in the near term. Further gains are therefore possible, however we have some key data out over the coming days that could easily influence. From Australia remaining today the RBA rate statement to draw focus. Then on Thursday we have employment change data to digest. While from Japan the market will be keen to see the BOJ minutes set for release on Thursday.
  Current Level Support Resistance Last week's range
AUD/YEN 98.58 97.00 100.00 94.84 - 99.38

Thursday 30th Oct 3:30PM (NZT)
After seeing some initial pressure from the Australian dollar the Yen has dramatically outperformed in the past 12 hours. The trigger for the move was a somewhat more positive tone from the US Federal Reserve in their rate statement released early this morning. This caused the USD to rally strongly across the board and the AUD significantly underperformed many other currencies. This drove the cross to the Yen down from 96.20 to a low so far of 95.40. If minor support at 95.40 is broken further losses toward 94.50 could easily eventuate. Next week is a big one from Australia with building approvals, retail sales, the trade balance and employment change all set for release along with the latest Reserve Bank of Australia rate statement. The Bank of Japan release their monetary policy statement tomorrow and next week we get the minutes from the meeting along with average cash earnings data.
The current interbank midrate is:    AUDJPY 95.64

The interbank range this week has been:    AUDJPY 93.81 - 96.26
Tuesday 28th Oct 2:30pm(NZT)
This pair started last week bouncing along the support at 93.50. The slightly higher than expected Australian inflation number provided the lead for increased AUD demand. For the time being the resistance at 95.50 has contained the AUD. The Australian producer price index on Friday offers some interest ahead of the BOJ’s monetary policy decision, also on Friday. Any return of vulnerability in the global equity markets will see the AUD give up ground, and the support at 93.50 will become the likely target.
  Current Level Support Resistance Last week's range
AUD/YEN 95.05 93.50 95.50 93.57 - 95.41

Thursday 23th Oct 3:30PM (NZT)
After bouncing strongly from 92.00 support this time last week, this pair has since traded in a subdued range around the 94.00 level. Australian data has had little impact, as have the Japanese releases. I expect further sideways price action ahead of next week’s economic releases from Japan which include retail sales, industrial production, household spending and inflation, and the Bank of Japan monetary policy statement. From Australia we have the Treasury’s mid-year economic and fiscal outlook, along with import prices and producer prices to digest. This pair has seen relative stability as the global growth fears have partially subsided.
The current interbank midrate is:    AUDJPY 93.96

The interbank range this week has been:    AUDJPY 91.80 - 94.57
Monday 20th Oct 3:30PM (NZT)
In line with the wider market, this pair saw periods of intense volatility last week. The YEN held the upper hand for the half of the week, easily repelling the AUD on attempts to bounce. However, the support at 92.00 stemmed the flow and the following bounce has been healthy. The confirmation of liquidity support for banks in China has provided a positive environment for the AUD to start the week. The initial resistance at 94.50 looks likely to be tested, with the lead coming from the RBA monetary policy meeting minutes release tomorrow, and the 3rd quarter Australian inflation numbers on Wednesday.  In Japan we just have the Trade Balance data on Wednesday to offer passing interest.
  Current Level Support Resistance Last week's range
AUD/YEN 94.15 92.50 94.50 91.80 - 94.51

Friday 17th Oct 2:30PM (NZT)
Volatility in the wider financial markets has been the main driver of this pair over the course of the week. Broad declines in US stocks, long term interest rates and the USD on Wednesday night caused some sharp moves in the value of the Yen and Australian dollar. In the final wash up the pair is currently trading close to where is started the week around 93.40, having briefly traded down below 92.00 This notable pick up in volatility is unlikely to disappear soon and leaving limit orders is a good way of taking advantage of the increased volatility we are currently seeing. Next week from Australia we get the minutes from the last RBA meeting, inflation data, and the Treasury’s mid-year economic and fiscal outlook. While from Japan we have a very quiet week with only the trade balance of any note.
The current interbank midrate is:    AUDJPY 93.30

The interbank range this week has been:    AUDJPY 91.80 - 94.68
Tuesday 14th Oct 2:30PM (NZT)
The Australian dollar has seen pressure from a somewhat resurgent Yen the past week and this caused the pair to test support around 93.00 in early trade yesterday. We have seen a bounce from that low, but the risks remain skewed to the downside for now. Japanese data has been something of a mixed bag recently, with the most encouraging result coming from core machinery orders that beat expectation by a long shot last week. There is little out of Japan this week so attention will now turn to Australian data. We have business confidence out this afternoon, then later in the week we have consumer sentiment, inflation expectations and a speech from RBA Assistant Governor Debelle will draw focus.
  Current Level Support Resistance Last week's range
AUD/YEN 93.70 93.00 95.00 92.89 - 95.84

Friday 10th Oct 2:30PM (NZT)
The past two weeks has seen largely sideways price action for this pair between 95.00 and 96.00. In the past 12 hours however the bottom of that range has been breached and the cross looks heavy currently trading around 94.50. This keeps the focus on the downside and a test of 94.00 looks likely. Broader market moves in the value of the USD have played a significant role in recent volatility for this pair and that seems likely to continue in the near term. Next week from Australia we have business confidence, consumer sentiment and inflation expectations to draw focus. From Japan we have the BOJ minutes out this afternoon, but there is little else to get excited about on next week's calendar.
The current interbank midrate is:    AUDJPY 94.47

The interbank range this week has been:    AUDJPY 94.46 - 95.88
Tuesday 7th Oct 2:30PM (NZT)
The past week has seen choppy sideways price action for this pair with no overall direction. The downside has been limited to a number of tests around 95.00, but the market has quickly bounced on each occasion. Initial resistance around 96.00 has contained the topside and those two levels will likely dominate heading into today’s RBA and BOJ rate statements. Neither central bank is expected to adjust policy although there is still plenty of potential for a reaction to their respective economic assessments. Later in the week from Australia we have employment data to draw focus, while from Japan we have the current account, core machinery orders and the BOJ minutes to digest.
  Current Level Support Resistance Last week's range
AUD/YEN 95.40 95.00 97.00 94.91 - 96.02

Friday 3rd Oct 3:30PM (NZT)
The past week has seen some choppy price action for this pair, but no overall direction. Both currencies have seen periods of relative strength and weakness driven by fundamental economic data and market positioning. Yen weakness is starting to gain a fair amount of attention in Japan and there was even talk this week of possible BOJ intervention. That may be a way away yet by the market will be nervous about weakening the Yen dramatically further from here. Tonight’s US employment data could add some real volatility to a week that has already seen plenty of action. For the time being 95.00 to 96.00 seems a comfortable range for the pair.
The current interbank midrate is:    AUDJPY 95.67

The interbank range this week has been:    AUDJPY 94.91 - 96.02
Tuesday 30th Sept 12:00PM (NZT)
The Australian dollar has lost ground to the Japanese Yen this week, weighed on to a degree by the dramatic losses seen in the New Zealand dollar. There hasn’t been much in the way of economic data from Australia to drive prices, although we do have some key releases coming up in the next few days. Retail sales, building approvals and trade balance data are all set for release along with the RBA’s testimony on housing market risks. From Japan we also have plenty of data to digest with household spending, unemployment, retails sales, industrial production and the quarterly Tankan report set for release. A move to support around 94.30 can’t be ruled out in the near term, however I would expect that level to contain weakness for the time being. On the topside 96.50 looks like it will cap any potential bounce and I would recommend selling into that strength.
  Current Level Support Resistance Last week's range
AUD/YEN 95.43 94.30 96.50 95.16 - 96.98

Friday 26th Sept 3:30PM (NZT)
It has been an interesting week for this pair that has seen the Japanese win out in a grinding appreciation over the Australian dollar for the most part. There was a small bounce from the AUD mid-week following the RBA Financial Stability report, but it did not last. The AUD was dragged lower the last 24 hours by a sinking NZ dollar and general wider market risk aversion. Direction from current levels is not certain. A consolidated break of the 95.50 level opens up the way for a test of the support ast 94.50.  The calls from various Japanese officials about severe moves in the YEN being unhelpful appears to have provided it support. Next week the Japanese industrial production, retail sales and manufacturing numbers offer focus. In Australia Wednesday’s retail sales report will be closely watched, as will the building approval and trade balance numbers on Thursday.
The current interbank midrate is:    AUDJPY 95.75

The interbank range this week has been:    AUDJPY 95.42 - 97.92
Tuesday 23rd Sept 4:00PM (NZT)
Both the Australian dollar and Japanese Yen have seen periods of pressure this past week which have resulted in some decent swings in the cross. Support around 96.40 has been tested on four separate occasions over the past month and so far it has held firm. The pair looks like is it once again trying to stage a bounce from that level after testing it a couple of hours ago. A break below there would certainly be a negative signal, but until that happens the risk remain for a recovery back up over 97.00. The economic calendar is pretty light from Australia this week with the financial stability review and a speech by RBA Governor Stevens the main highlights. From Japan we just have inflation data on Friday to draw focus.
  Current Level Support Resistance Last week's range
AUD/YEN 96.62 96.50 98.50 96.39 - 97.78

Friday 19th Sept 2:00PM (NZT)
The first half of the week saw the Japanese Yen outperforming the Australian dollar as the pair traded down to 96.39, but since the FOMC announcement early yesterday morning the Yen has been the big under performer. This has seen the cross recover all the back up to 97.78 and the risks remain skewed toward further gains. Recent cycle highs at 98.68 should provide a major barrier on the topside and selling into strength toward that level is recommended. Next week is a quiet one data wise with only inflation numbers from Japan along with the leading index and the RBA financial stability review from Australia.
The current interbank midrate is:    AUDJPY 97.72

The interbank range this week has been:    AUDJPY 96.39 - 97.78
Tuesday 16th Sept 3:00PM (NZT)
Weakness in the Australian dollar over the past seven days has seen this pair pull back significantly from recent highs set around 98.80. The AUD was under pressure all week and even record high employment change numbers couldn’t turn the tide. Support around 96.50 has contained the downside however, and this leaves the pair still in a strong position. After a period of consolidation we could easily see the cross start to climb again and this is the favoured scenario. Only a sustained move down through 96.50 would alter that outlook. The BOJ’s Kuroda is set to deliver a couple of speeches this week and if there is any indication of further easing measures in the pipeline the Yen will see pressure. The risk of further action from the BOJ is increasing as the economy fails to recover from April’s sales tax increase.
  Current Level Support Resistance Last week's range
AUD/YEN 96.80 96.50 98.50 96.40 - 98.65

Friday 12th Sept 2:00PM (NZT)
It has been a volatile last week for this pairing. Both currencies have seen periods of intense selling and this has led to some violent price action. The support at 97.30 has held on for two solid attempts so far, and remains the target in the short term. BOJ Governor Kuroda’s speech later on tonight will be closely watched, and this theme continues next week with addresses on Tuesday and Thursday from the Governor. In Australia the minutes from the monetary policy meeting last week will be closely monitored for any new insight. If the 87.30 level does break, the next target becomes the 97.00 level that slowed momentum for a time as the pair appreciated.
The current interbank midrate is:    AUDJPY 97.22

The interbank range this week has been:    AUDJPY 97.22 - 98.67
Tuesday 9th Sept 2:00PM (NZT)
The Australian dollar saw solid grinding appreciation again the Japanese Yen last week. Only the substantial resistance at 98.60 has been able to contain further appreciation for the time being. The broad up trend for this pair remains in place, and the Japanese focus will turn to the BOJ governor Kuroda’s speech on Friday for some direction. From Australia the latest monthly employment numbers on Thursday will garner attention. If the JPY sees further pressure on the USDJPY pairing, that will likely aid the AUD in further outperformance. The pair is now at the highest levels seen in 14 months, and offering very good value buy of JPY with AUD.
  Current Level Support Resistance Last week's range
AUD/YEN 98.42 96.60 98.60 97.36 - 98.67

Friday 5th Sept 2:30PM (NZT)
It has been a week of strong gains for this pair as Australian dollar has dramatically outperformed the Japanese Yen. The Yen has suffered as confidence in the Japanese economies ability to recovery from April’s sales tax increase declines. The Australian dollar on the other hand has been a stand out performer buoyed by improving data and comments from RBA Governor Stevens that seem to take the potential for any further rate cuts off the table. There is nothing to be gained in trying to call a top to a move this strong, so for now all the focus remains on the upside and further gains are likely. From Australia next week we have business confidence, consumer sentiment and employment change data to draw focus. While from Japan we get the current account, GDP, the BOJ minutes, Tertiary industry activity and core machinery orders data.
The current interbank midrate is:    AUDJPY 98.42

The interbank range this week has been:    AUDJPY 96.93 - 98.58
Tuesday 2nd Sept 2:00PM (NZT)
This pair has seen further AUD outperformance over the last week, albeit with lowering momentum. The continuation of mostly weak Japanese economic news enabled the move, albeit the strong private capital expenditure numbers in Australia also played a role. Expect any further AUD gains to be harder fought, especially around the 98.00 level. The focus this week is initially provided by the RBA monetary policy statement later on today. Then comes Australian Q2 GDP on Wednesday and retail sales numbers Thursday. Rounding out the week is the turn of the BOJ to make their monetary policy announcement. Staggering transfers at targeted levels should provide value for those looking to buy JPY with Australian dollars.
  Current Level Support Resistance Last week's range
AUD/YEN 97.50 95.50 98.50 96.49 - 97.45

Friday 29th Aug 1:30PM (NZT)
This pair has traded a relatively contained range this week, albeit with a bias towards Australian dollar strength. The push up through initial resistance at 96.50 has enable further AUD appreciation and that level now offers some good support in any periods of softness. Barring an escalation of geo-political concerns, the continuation of the soft economic outlook in Japan and the more balanced Australian prospects should see this pair continue to trade with an upside bias. In Japan next week the BOJ monetary policy meeting will provide the focus. The Australian economy will also be closely followed next week, with the important releases of the RBA rate statement, GDP and retail sales.
The current interbank midrate is:    AUDJPY 96.98

The interbank range this week has been:    AUDJPY 96.47 - 97.24
Tuesday 26th Aug 1:30PM (NZT)
All currencies lost ground to the USD last week, but the Australian dollar managed to hang in better than most. As such the AUD appreciated on most cross rate and against the Yen was no exception. The pair continued its march higher trading up to 97.22 early yesterday morning. The break above resistance at 96.50 is significant and that level now provides initial support on the downside.  However, in the past 24 hours we have seen something of a correction lower and this could happily extend to the 96.00 area without threatening the overall uptrend. Later this week from Australia we get construction work done and private capital expenditure data. While from Japan we have to wait until Friday when household spending, inflation, industrial production and retail sales data is all released.
  Current Level Support Resistance Last week's range
AUD/YEN 96.52 95.50 97.50 95.62 - 97.22

Friday 22nd Aug 2:00PM (NZT)
It has almost been one way traffic this week as the Australian dollar has outperformed the Japanese YEN. The price action has predominantly been driven by the relative performances against the US dollar. The USDJPY rally has placed considerable pressure on the YEN as the market has positioned itself ahead of the central bankers’ symposium in Jackson Hole, starting later on today. With the pair having blown through the resistance at 96.50, further AUD gains cannot be discounted at this time. Obviously the current levels offer great value buying of YEN, albeit even if better levels may come on offer. Again next week the lead will come from the relative performances against the “big dollar”. From a data perspective next week, the Australian private capital expenditure numbers will be keenly followed. In Japan the week is quiet until Friday when household spending, inflation, industrial production and retail sales hit the wires.
The current interbank midrate is:    AUDJPY 96.68

The interbank range this week has been:    AUDJPY 95.06 - 96.71
Tuesday 19th Aug 4:30PM (NZT)
The Australian dollar has outperformed the Yen this week making gains to the 95.87 level. A sharp dip on Friday evening came on the back of reports of a flare up in the Ukraine which cause some risk aversion, but it was short lived and the pair eventually continued its march higher. Australian data has been mostly supportive with improvements in business confidence, consumer sentiment and house prices. The big fall seen in Japanese GDP data was largely expected in the wake of the sales tax increase and of more importance will be how the economy recovers over the coming months. The pair is approaching a strong band of resistance between 96.10 and 96.50. I expect this area to cap strength in the near term. Tomorrow we have a speech from Governor Stevens to digest while from Japan this week we only have trade balance which is unlikely to influence the currency to any large degree.
  Current Level Support Resistance Last week's range
AUD/YEN 95.84 94.50 96.50 93.63 - 95.87

Friday 15th Aug 3:55PM (NZT)
The Australian dollar has seen grinding appreciation over the Japanese YEN this week. Lower levels of global geo-political tensions have coupled with the concern of Japanese growth numbers to enable the move. Further AUD outperformance cannot be ruled out, but any approach to resistance at the 96.50 level, will likely prove a step too far in the short term. The focus from here will remain on the wider markets risk appetite, along with the release of the RBA monetary policy meeting minutes on Tuesday. Current levels offer good value buying of YEN, especially for those looking to break the transaction into a number of tranches.
The current interbank midrate is:    AUDJPY 95.56

The interbank range this week has been:    AUDJPY 93.93 - 95.56
Tuesday 12th Aug 2:00PM (NZT)
The Australian dollar lost significant ground to the Japanese Yen in the second half of last week. Poor Australian employment data triggered the move that was then extended on Friday after the Bank of Japan monetary policy statement. The Yen saw a surge in demand after the central bank left their overall economic assessment unchanged, which disappointed some in the market who thought it might be downgraded due to recent poor data. The pair traded to a low just under 94.00, but managed to recover some of that lost ground over the next 24 hours. The risks are still skewed to the downside for the time being and another test of 94.00 seems likely. From Australia this week we get consumer sentiment, the wage price index, and inflation expectations. While from Japan we have GDP, the BOJ minutes and core machinery orders.
  Current Level Support Resistance Last week's range
AUD/YEN 94.74 94.50 96.50 93.93 - 95.82

Friday 8th Aug 2:30PM (NZT)
The Australian dollar has been under pressure from the Yen for most of this week. The most dramatic fall in the pair came on the back of much weaker than expected Australian employment data yesterday afternoon. This saw the pair collapse from 95.50 to 94.70 and the downside pressure is yet to abate. Further losses look likely although we do have the Bank of Japan rate meeting later this afternoon that could easily influence. There is growing expectation the bank could downgrade its economic assessment and this should pressure the Yen to a degree. Next week from Australia we have business confidence, consumer sentiment, the wage price index and inflation expectations. While from Japan we get the Tertiary Industry Activity index, BOJ minutes, GDP and core machinery orders.
The current interbank midrate is:    AUDJPY 94.53

The interbank range this week has been:    AUDJPY 94.52 - 95.83
Tuesday 5th Aug 1:30PM (NZT)
The Australian dollar saw some pressure from the Yen on Friday evening that took the pair down to its 95.30 low. This was short lived however, as the AUD outperformed in the wake of US employment data and the cross is now largely unchanged from where it was a week ago. Poor economic data from Japan recently is keeping the Yen on the back foot and this is expected to continue in the near term. This keeps the focus for the pair on the topside and a potential move back up over 96.00. First up however, we have the RBA rate statement to negotiate this afternoon and then on Thursday we get employment change data. The week will be rounded out by the Bank of Japan’s own monetary policy statement on Friday and a lot of attention will be paid to their current assessment of the economy.
  Current Level Support Resistance Last week's range
AUD/YEN 95.66 94.50 96.50 95.30 - 96.12

Friday 1st Aug 1:50PM (NZT)
It has been an interesting week for this pair that has seen  a relatively contained trading range. Both currencies have seen periods of increased supply hamper performance. The continuation of the trend of weak Japanese economic news will likely keep the pressure on the YEN in the short term at least. Interestingly, in the aftermath of the positive US economic news this week, the AUD has been vulnerable, should tonight’s US employment numbers provide further good news, we may see this pressure increase again on the AUD. The pair currently sits very mid-range, and with direction unclear as the 94.50 -96.50 levels offer the extremities of the current range. Next week sees a busy calendar in Australia with retail sales, the RBA announcement (no change) and the latest employment numbers to offer focus. In Japan the BOJ monetary policy announcement will be closely followed given the recent data that has come to light.
The current interbank midrate is:    AUDJPY 95.72

The interbank range this week has been:    AUDJPY 95.50 - 96.12
Tuesday 29th July 1:30PM (NZT)
Gains in the value of the Australian dollar after last week’s strong than expected inflation data saw this pair trade up to 96.17 before moderating a touch. Since then direction has been lacking to a degree with a period of consolidation above 95.50 ensuing. This keeps the focus on the topside for the time being. Data from Japan has been largely uninspiring with Friday’s core inflation number a little disappointing. This should only serve to underpin further topside price action for the pair. However, there is a major band of resistance between 96.10 and 96.50, which will prove very difficult to overcome. As such the near term will likely see at 95.50 to 96.50 range dominate. This week from Australia we get building approvals and producer prices data to digest, while from Japan we have a raft of data including household spending, retail sales, industrial production and average cash earnings.
  Current Level Support Resistance Last week's range
AUD/YEN 95.84 94.50 96.50 94.95 - 96.17

Friday 25th July 4:0PM (NZT)
The Japanese Yen has seen continued pressure from the Australian dollar this week with the pair making gains above 96.00. A downward revision to Japanese growth for 2014 has weighed on the Yen to a degree, but most of the gains have come from Australian dollar strength. The AUD has benefited from solid inflation data and an improved reading on Chinese manufacturing. As a result the pair now trades around the 95.90 level and the focus is still on the topside. It will take a move below support at 95.80 to turn the immediate picture negative. However, there is a lot of resistance between 96.00 and 96.50 which have capped any periods of strength since March and the pair will find it tough to overcome that band. Next week from Australia we have new home sales, building approvals, import prices and producer prices. While from Japan we get household spending, retail sales, industrial production and average cash earnings.
The current interbank midrate is:    AUDJPY 95.85

The interbank range this week has been:    AUDJPY 94.44 - 96.17
Tuesday 22th July 2:30PM (NZT)
Apart from a period of risk aversion in the immediate aftermath of the Malaysian Airlines crash this pair has been very range bound over the past week. Resistance around 95.50 has capped the topside, while support just below 95.00 has contained a number of downside attempts, excluding the ‘risk off’ spike to 94.40 which was short lived. This week the focus turns to Australian inflation data out tomorrow. A result significantly away from the 0.5% expectation could easily impact the currency. From Japan this week we also get inflation data along with the trade balance and manufacturing PMI.
  Current Level Support Resistance Last week's range
AUD/YEN 95.16 94.50 96.50 94.41 - 95.51

Friday 18th July 4:00PM (NZT)
This pair saw mostly sideways trading action over the course of the week as data and releases from both countries had limited impact. In the last 12 hours however, we have seen a sharp move lower on the back of risk aversion after news broke that a Malaysian Airliner had been shot down over the Ukraine. This classic ‘risk off’ move saw the Australian dollar get sold and the Yen get bought. That drove the pair down to 94.41 although we have seen a decent bounce since then. Expect the markets to remain nervous heading into the weekend and as such the topside is probably limited for now. From Australia next week we also have inflation data along with a speech from RBA Governor Stevens to digest.
The current interbank midrate is:    AUDJPY 94.85

The interbank range this week has been:    AUDJPY 94.41 - 95.51
Tuesday 15th July 1:05PM (NZT)
This pair was trading in a very tight range around 95.50 up until last Thursday when a couple of factors drove the pair lower. The first was Australian employment data that was a little disappointing with a big swing away from full time work. But the move extended to the down side later that evening when concerns about a Portuguese Bank default cause a wave of risk aversion to sweep through the market. The AUD was sold and the Yen got bought at the same time, which eventually saw the low of 94.73 trade. The markets fear quickly abated and since then the pair has slowly recovered, but it does go to show that even in this low volatility environment the market is a little jittery. Today’s RBA minutes will be closely watched and later in the week we have Australian business confidence. We also have the Bank of Japan monetary policy statement this afternoon, although that shouldn’t contain any real surprises.
  Current Level Support Resistance Last week's range
AUD/YEN 95.40 94.50 96.50 94.73 - 95.77

Friday 11th July 1:30PM (NZT)
For the majority of this week the AUDJPY pair was stuck in a very tight trading range around 95.50. That all changed yesterday after disappointing Australian employment data combined with market jitters over night which caused some risk aversion to sweep through the market. Talk of a Portuguese bank missing debt payments was all it took to see a classic ‘risk off’ scenario where the AUD gets sold and the Yen gets bought. The cross quickly plunged down to 94.73 before a small recovery ensued. With the recent trading range now broken and the pair holding below minor resistance around 95.20, the downside remains favoured. From Australia next week we have the RBA minutes and business confidence data to digest. While in Japan the focus turns to the BOJ rate meeting.
The current interbank midrate is:    AUDJPY 95.12

The interbank range this week has been:    AUDJPY 94.73 - 95.77
Tuesday 8th July 2:45PM (NZT)
The Australian dollar lost ground to the Yen in the middle of last week on the back of poor trade balance data and soft retail sales figures. Since then however the pair has remained in a tight range around 95.50 thanks in large part to the long weekend in the US that saw volatility drop across all markets. Key downside support comes in around 95.20 and while above there we are likely to continue to see further range trading. Any move below 95.20 however would be a weak signal and warn that a broader pullback could be developing. Key data from Australia this week comes in the form of employment change on Thursday. From Japan we have core machinery orders and the tertiary industry activity index to digest.
  Current Level Support Resistance Last week's range
AUD/YEN 95.52 94.50 96.50 95.35 - 96.50

Friday 4th July 12:30PM (NZT)
Movements in this pair over the past week have been driven to a large extent by changes in the value of the Australian dollar. Early AUD strength saw the cross trade up to 96.50 but this move was quickly reversed on Wednesday after shocking trade balance data from Australia. Pressure on the AUD was compounded yesterday after soft retail sales figure and negative comments from RBA Governor Stevens. From Japan we had a mixed bag this week with the key Tankan report balancing near term weakness in sentiment with positive future capital spending plans. The pair now finds itself trading close to where it was this time last week at 95.50. Selling into strength is recommended with levels over 96.00 failing to be maintained on numerous occasions since early April.
The current interbank midrate is:    AUDJPY 95.55

The interbank range this week has been:    AUDJPY 95.17 - 96.50
Tuesday 1st July 2:15PM (NZT)
This pair has traded a relatively contained range over the last week. It does continue to trade close to the year’s highs, as the market remains poised for further BOJ stimulation if required. Today’s BOJ Tankan survey results have helped keep the AUDJPY towards the middle of the week’s range. Expect the RBA monetary policy announcement later on today to be closely watched, albeit likely of limited impact. Expect the wider 94.50 - 96.50 range to contain the price action, even if we see increased volatility following the US employment numbers on Thursday. Over time the current levels could prove to have offered good value buying of YEN with Australian dollars.
  Current Level Support Resistance Last week's range
AUD/YEN 95.65 94.50 96.50 95.17 - 96.09

Friday 27th June 2:00PM (NZT) - Update
This pairing has traded a relatively contained range so far this week. There was an initial bounce higher to establish the highs for the week on the back of the improved Chinese manufacturing numbers. However, before long the AUD ceded the upper hand before finding support at 95.20. The price action has been moribund since consolidating just off the weeks lows and very much in the middle of the 94.50 - 96.50 wider trading band. The Tankan survey results and RBA monetary policy statement on Tuesday will provide the bulk of the focus for the week ahead. Any inkling of the need for further policy support from the BOJ would undermine the JPY and boost the AUD to once again test higher levels.
The current interbank midrate is:    AUDJPY 95.70

The interbank range this week has been:    AUDJPY 95.20 - 96.15

Tuesday 24th June 2:43PM (NZT)
The Australian dollar saw periods of increased demand boost it higher over the YEN over the last week. The first boost came from the FED’s monetary policy statement and next came from yesterday’s improved Chinese manufacturing numbers. The price action outside of these periods has been non-descript. The pair remains ensconced in the wider 94.50 - 96.50 trading range for the time being. Relatively quiet economic calendars in both countries point towards external forces providing the lead this week. On Friday Japanese household spending and retail sales data will be of passing interest, but of limited impact.
  Current Level Support Resistance Last week's range
AUD/YEN 95.98 94.50 96.50 95.20 - 96.16

Friday 20th June 2:00PM (NZT) - Update
The Australian dollar has lost its recent momentum against the YEN. The resistance at 96.50 remains firmly in place and likely to cap any increases in AUD demand in the near term. The AUD did see one jump in demand following the “dovish” Fed monetary policy statement. So the pair remains in the expected 94.50 - 96.50 range and this can expect to contain the price action in the coming week. Governor Kuroda speaks later on today and then again on Monday and this speeches will be closely followed. Also in Japan next week we get household spending, Tokyo inflation and retail sales numbers all on Friday.
The current interbank midrate is:    AUDJPY 95.85

The interbank range this week has been:    AUDJPY 95.20 - 96.15
Tuesday 17th June 3:43PM (NZT)
This pair has continued to trade a very tight range of late, albeit with the AUD at elevated levels. Overtime it may well prove to have offered good value buying of JPY with AUD, especially if the issues in the Middle East continue to intensify. With the uneventful RBA meeting minutes out of the way this afternoon, the focus now moves onto BOJ minutes and Japanese trade balance tomorrow. Friday night sees BOJ Governor Kuroda make an on the record speech and this will be closely followed.
  Current Level Support Resistance Last week's range
AUD/YEN 95.50 94.50 96.50 95.51 - 96.15

Friday 13th June 2:30PM (NZT) - Update
For the most part this pair has traded a very contained range this week. The resistance at 96.20 has contained the AUD appreciation on two attempts, and it seems like the trend of AUD outperformance that has been in place for the last month, maybe starting to lose momentum. Relatively positive recent Japanese news has helped stimulate Yen demand and the near term focus now moves to the BOJ monetary policy statement later on this afternoon. There is no chance of policy adjustment from the BOJ, but the latest insight to their thinking will be of value. Next week sees little in the way of top tier economic news due from either economy, but speeches by the respective central bank Governors will be closely watched..
The current interbank midrate is:    AUDJPY 95.83

The interbank range this week has been:    AUDJPY 95.43 - 96.11
Tuesday 10th June 1:00PM (NZT)
It has been a week of relentless gains for this pair driven in large part by strength in the Australian dollar. The AUD has benefited from a stable outlook from the RBA and better than forecast GDP data while the Yen has largely ignored yesterday’s economic releases. The pair has now seen a powerful rally that started from 93.03 on the 21st May. We are now approaching a band of resistance between 96.00 and 96.50 that has capped any gains since mid-last year. Further gains are going to prove to be a lot tougher to come by and we could well see a short term top develop somewhere ahead of 96.50 over the coming days. If that does develop a corrective pullback toward support around 94.50 could easily unfold. This afternoon we get business confidence data from Australia and later in the week we have consumer sentiment and employment change data to draw focus. While from Japan attention will turn to the BOJ monetary policy statement and press conference on Friday.
  Current Level Support Resistance Last week's range
AUD/YEN 95.80 94.50 96.20 94.52 - 95.94

Friday 6th June 2:30PM (NZT) - Update
It has been another week of Australian dollar outperformance with a continuation of the rally that began just over two weeks ago. Monday’s soft building consents data caused a small pullback, but it was short lived and GDP data on Wednesday helped to accelerate the gains. This uptrend is targeting resistance at 96.20 which should contain the gains for now. In fact since late March there have been a number of attempts above 96.00 and on every occasion the pair has quickly reversed. I see no fundamental reason for that to change in the near future. Selling into gains over 96.00 is therefore recommended in the near term. Downside support currently comes into play at 94.50. Next week from Japan we have the BOJ rate meeting along with current account, GDP, tertiary industry activity, and core machinery orders. While from Australia we have business confidence, consumer sentiment, and employment data to digest.
The current interbank midrate is:    AUDJPY 95.47

The interbank range this week has been:    AUDJPY 94.29 - 95.70
Tuesday 3rd June 6:30PM (NZT)
This pair has seen rather muddled price action over the last week. The AUD saw some initial pressure from the YEN before staging a solid 100pt recovery. Yesterday the AUD took a knock lower after the building consent numbers, only to bounce again and the vulnerable side does not feel like the initial resistance at 95.30. The RBA monetary policy announcement a little later on this afternoon provides the near term focus, albeit little reaction to a no change decision is expected. The focus from there moves to the important Q1 Australian GDP data tomorrow and trade balance on Thursday. After the recent, and relatively positive Japanese data, there is little note for the remainder of the week.
  Current Level Support Resistance Last week's range
AUD/YEN 94.70 93.30 95.30 93.74 - 94.93

Friday 30th May 2:00PM (NZT) - Update
The Australian dollar has appreciated against Yen this week thanks in large part to private capital expenditure data released yesterday in Australia. That data boosted the AUD and saw this pair trade from the weeks low to the weeks high inside 24 hours. We have seen a number of releases from Japan this week that have only served to confirm what everyone expected would happen after the government increased sales tax at the beginning of April. Household spending and retail sale dropped like a stone and the big question is when will we see a recovery. A move up through 95.00 is the favoured scenario as we head into next week which should prove interesting. From Australia we have the RBA meeting along with building consents, retail sales, GDP, and the trade balance. While from Japan we get capital spending, average cash earnings, and the leading indicators.
The current interbank midrate is:    AUDJPY 94.65

The interbank range this week has been:    AUDJPY 93.74 - 94.74
Tuesday 27th May 2:30PM (NZT)
Weakness in the Australian dollar drove this pair down to its 93.06 low mid last week. We have however, seen a decent recovery from there helped by better than expected Chinese manufacturing data. Positive Asian stock markets have also helped improve risk sentiment and this too has underpinned the move to a degree. Minor resistance around 94.60 provides the initial barrier to further gains, although if this can be overcome a move back to 95.20 is likely. From Australia this week we get construction work done, new home sales, and private capital expenditure figures. While from Japan we have Governor Kuroda set to speak tomorrow, and then retail sales data on Thursday. This will be followed on Friday by household spending, inflation, and industrial production data.
  Current Level Support Resistance Last week's range
AUD/YEN 94.40 93.00 95.20 93.06 - 94.74

Thursday 22nd May 3:30PM (NZT) - Update
This week has seen a grinding outperformance of the Australian dollar by the Japanese Yen. Lower commodity prices and general market risk aversion have driven the move to weaken the AUD, whilst boosting the YEN. Adding to the momentum was confirmation of no further policy initiates from the BOJ at this time. With a swift fall from 95.00 to almost 93.00, the ensuing corrective bounce has been nice for the AUD. This can be viewed as healthy, and as long as the pair does not go back through the 94.50 level, then further downward pressure on the AUD should be forthcoming. The BOJ monetary policy meeting minutes on Monday will be close watched amongst a raft of other data in japan next week. The Australian private capital expenditure number on Thursday will be the domestic focus for the week, closely followed by private sector credit on Friday.
The current interbank midrate is:    AUDJPY 94.07

The interbank range this week has been:    AUDJPY 93.06 - 95.78
Tuesday 20th May 3:00PM (NZT)
It has been largely one way traffic for this pairing over the past week. This has been driven on two fronts with weakness in the Australian dollar combining with strength in the Japanese Yen. As a result the pair has pulled back from the 96.10 high set last Wednesday to recently trade as low as 94.41. There hasn’t been any fundamental driver of AUD weakness, however the JPY has been supported by better than expected data. Both GDP and core machinery orders came in significantly above forecast and these results saw increased demand for Yen. There is support between 94.40 and 94.00, with any move below the latter level signalling a broader pullback is underway. This would target 93.00 and even 92.00. Over the coming days from Australia we have consumer sentiment, the wage price index, and inflation expectations to draw focus. While from Japan we get trade balance ahead of the BOJ’s monetary policy statement tomorrow.
  Current Level Support Resistance Last week's range
AUD/YEN 94.54 94.50 96.50 94.41 - 96.10

Friday 16th May 2:00PM (NZT) - Update
The early part of this week saw the Australian dollar continue its gradual appreciation against the Japanese Yen. The pair briefly traded over 96.00 before a sharp turnaround ensued. To be fair, levels over 96.00 haven’t been sustained for long periods at all in 2014 and this recent rejection just confirms the resistance seen above that level. Key support comes in toward 94.00 and those two levels are likely to define trading in the near term. Next week from Australia we have the RBA minutes along with consumer sentiment and the wage price index. While from Japan we get core machinery orders, the trade balance, and the Bank of Japan (BOJ) monetary policy statement.
The current interbank midrate is:    AUDJPY 95.02

The interbank range this week has been:    AUDJPY 94.74 - 96.10
Tuesday 13th May 2:00PM (NZT)
A combination for strength in the Australian dollar, and some recent weakness in the Japanese Yen, has seen this pair perform strongly over the past week. The AUD gained in the wake of better than expected employment numbers last Thursday. While the JPY has seen pressure on the back of increasing expectation for further BOJ action over the coming months. We could easily see a test toward early Aprils high of 96.51, although first we need to navigate this afternoon’s Australian budget release.
  Current Level Support Resistance Last week's range
AUD/YEN 95.60 94.50 96.50 94.29 - 95.66

Friday 9th May 2:00PM (NZT) - Update
After trading in a tight range for the much of the past two weeks this pair looks to have broken the shackles in the wake of yesterday’s Australian employment data. That better than expected release caused a material increase in demand for Australian dollars and saw the pair trade up to 95.66. We have seen a pullback since then, but as long at the pair holds above 95.00, the risks are skewed to the topside. Locally next week we have business confidence and the annual budget to digest. While from Japan we have current account, GDP, and tertiary industry activity data to provide the major focus.
The current interbank midrate is:    AUDJPY 95.18

The interbank range this week has been:    AUDJPY 94.29 - 95.66
Tuesday 6th May 2:00PM (NZT)
This pair has also been largely directionless for much of the past two weeks. Apart from a brief period on Friday evening in the wake of US employment data, the downside has been contained by support around 94.50 for most of that time. On the topside 95.30 has capped and those two levels mark what has been a tight range for the pair since 23rd April. This week from Japan we only have the BOJ minutes to digest, however from Australia there are a number of releases that could influence. First up is the RBA meeting this afternoon, and although no one is expecting a change in stance or tone from the central bank, the statement will be closely scrutinised. This is followed by retail sales tomorrow and employment data on Thursday.
  Current Level Support Resistance Last week's range
AUD/YEN 94.90 94.50 96.50 94.29 - 95.26

Friday 2nd May 3:00PM (NZT) - Update
There has been no overall direction in this pair since 23rd March. Trading has been confined to a tight range between 94.50 and 95.30 since that date. Second tier data from both countries has had little impact this week, and even the BOJ rate meeting delivered little in the way of surprises of volatility. While the downside is contained by support around 94.50 there is potential for a rally back up to recent cycle highs above 96.00. Any move below 94.50 will however warn of further losses, with 94.00 then 92.00 being the targets. Next week should prove interesting with a number of key releases from Australia. Building approvals, retail sales, the RBA rate meeting and employment change are all set to hit the wires. While from Japan the only release of note with be Wednesday’s minutes from the last BOJ meeting.
The current interbank midrate is:    AUDJPY 94.93

The interbank range this week has been:    AUDJPY 94.55 - 95.26
Tuesday 29th April 3:30PM (NZT)
This pair lost a lot of ground in the wake of last week’s softer than expected Australian inflation data. Since then however downside momentum has faded and the cross has been content to trade around the 94.80 level. There is minor support around 94.50 that has so far contained the weakness. Any break below there would open the way for a test of 94.00 or perhaps even 92.00. Data wise this week from Australia, the highlight will be producer prices on Friday, however ahead of that we get import prices and new home sales. From Japan we have industrial production data, the Bank of Japan’s monetary policy statement, and household spending figures to draw focus.
  Current Level Support Resistance Last week's range
AUD/YEN 94.70 94.50 96.50 94.55 - 96.22

Wednesday 23rd April 4:30PM (NZT) - Update
For most of the last week the AUD has ground higher against the Japanese Yen as the investor market was attracted to the stable and high yielding Australasian currencies. The appreciation was not sharp, but the depreciation since the lower than expected inflation data has been. In the overall scheme of things, the range has been relatively small and the support at 95.00 now will be the target for those looking for a weaker AUD. In a holiday affected shortened week, the focus now turns to the all-important Japanese inflation numbers for the month of March. With an expectation of 1.4% for the month, anything above this number will likely see pressure on the support at 95.00 for this pair. A number close to, or below 1.4% will see the pressure off the AUD as the market will increase the chance of further stimulatory efforts from the BOJ in the coming months.
The current interbank midrate is:    AUDJPY 95.45

The interbank range this week has been:    AUDJPY 95.36 - 96.24
Thursday 17th April 3:30PM (NZT) - Update
The past week has seen very choppy trade within a reasonably defined range. The pair seems comfortable trading between 94.80 and 96.20 for the time being. A break of either of those levels would likely signal a broader move is under way, although at this point it’s a unclear as to which side is more vulnerable, and this points towards further data watching. We get key inflation data from both countries next week and these results could well decide near term direction.
The current interbank midrate is:    AUDJPY 95.62

The interbank range this week has been:    AUDJPY 94.84 - 96.21
Tuesday 15th April 2:30PM (NZT)
The past week’s trading in this pair has been characterised by volatile price action with a reasonably defined range. 95.00 has support the downside, while levels over 96.00 have not been sustained for long. The Japanese Yen has been gaining against many currencies since the BOJ left policy unchanged at last week’s meeting. The Australian dollar however, has for the most part been matching those gains, boosted by improving sentiment and better economic data. This has resulted in the choppy range bound trade of the past week. Taking a look at the bigger picture, the past week’s trading looks like a consolidation within the broader uptrend that started from just above 88.00 in early March. This would suggest further gains are likely and a break of recent highs around 96.50 would confirm this view. From Japan this week we get revised industrial production numbers, consumer confidence, and tertiary Industry Activity data. From Australia the initial focus is on the RBA minutes due out this afternoon. These will be followed later in the week by business confidence and new motor vehicle sales.
  Current Level Support Resistance Last week's range
AUD/YEN 95.70 95.00 97.00 95.05 - 96.21

Friday 11th April 3:30PM (NZT) - Update
For much of the past week the Japanese Yen has outperformed the Australian dollar. The lack of action from the Bank of Japan after their rate meeting has seen a material increase in demand for the Yen. We did see a period of relative AUD strength yesterday in the wake of their better than expected employment data, but this was short lived. Since then the AUD has been weighed on by poor Chinese trade data and stock market nervousness. Those influences have driven the pair to the weeks 95.05 low in the last couple of hours. If we get a move down through support at 95.00 we could easily see a deeper correction to 94.00. Next week from Japan we get consumer confidence and the Tertiary Industry Activity index along with a couple of speeches from Governor Kuroda. From Australia the focus turns to the RBA minutes set for release on Tuesday.
The current interbank midrate is:    AUDJPY 95.28

The interbank range this week has been:    AUDJPY 95.05 - 96.49
Tuesday 8th April 1:30PM (NZT)
Since mid-March we have seen a combination of Japanese Yen weakness and Australian dollar strength that has propelled this pair from just above 91.00 to a high of 96.49 on Friday evening. That high came in the wake of US employment data that failed to live up to expectations. As US yields fell, higher yielding currencies like the AUD benefited the most and this initially drove the pair higher. The JPY has staged something of a fight back however which has driven the cross back down to 95.50, although the broader up trend is yet to be threatened. It would take a move below support around 94.40 to bring that into question. Later this afternoon we have the result of the latest BOJ meeting and there is some talk of policy adjustments. Later in the week the focus will turn to Australian employment data set for release on Thursday.
  Current Level Support Resistance Last week's range
AUD/YEN 94.47 94.40 96.50 95.34 - 96.49

Friday 4th April 1:30PM (NZT) - Update
The AUD performed strongly to start the week against the Yen, especially after the tepid Tankan results came to light from the BOJ. As the week has progressed the momentum behind the AUD has waned, albeit we remain at elevated levels. The current levels offer good value buying of Yen with AUD. However, the prospect of increasing impacts of the sales tax increase in Japan should see the Yen continue to trade with an air of vulnerability in the coming months. It will be an interesting week for this pair next week with a raft of economic news to offer focus. The BOJ monetary policy statement on Tuesday will offer an initial lead and this comes ahead of the Australian employment numbers on Thursday.
The current interbank midrate is:    AUDJPY 96.01

The interbank range this week has been:    AUDJPY : 94.58 - 96.16
Tuesday 1st April 1:30PM (NZT)
The Australian dollar has seen consistent appreciation against the Japanese Yen over the past week. This was driven by AUD strength as the local currency was the standout performer last week. On Friday afternoon Japan released a rash of data that didn’t have much impact initially. However in the offshore session the Yen began to weaken and this helped to drive the pair even higher. Yesterday we received disappointing industrial production figures from Japan and these have kept the Yen under pressure. As a result the AUDJPY pair has now traded to its best levels since June last year. Further gains cannot be ruled out, although the biggest hurdle could well come from the RBA meeting this afternoon. Any effort to talk the currency down by the central bank will likely get a reaction and could see top put in place for this pair. Later in the week we also have Australian trade balance and retail sales to digest. Then on Friday evening the all-important US employment figures could add to volatility.
  Current Level Support Resistance Last week's range
AUD/YEN 95.66 95.00 97.00 93.25 - 95.73

Friday 28th March 12:30PM (NZT) - Update
Amid an absence of material economic news in either economy this week, the Australian dollar has seen increased demand push it higher against the Yen. The initial resistance at 93.50 slowed momentum for a time, but once the pair consolidated through that level, the highs at 94.70 were quickly made. With the current pricing just off those highs, further AUD gains can certainly not be ruled out. Further resistance is seen at 95.20 and then 96.50 above there. The Japanese data later on today (Friday) with provide an initial lead, with the inflation number offering the primary focus. Expect further increased focus next week with the important data due for release in both economies.
The current interbank midrate is:    AUDJPY 94.65

The interbank range this week has been:    AUDJPY 92.48 - 94.70
Tuesday 25th March 2:00PM (NZT)
This pair was driven higher in the second half of last week on the back of Australian dollar strength. This outperformance by the AUD continued yesterday in the face of another soft reading from Chinese manufacturing data. The pair now trades around 93.30 and further gains toward 94.00 cannot be ruled out. Downside support is now seen at 92.80 with only a break below there warning the strength has run its course. From Australia tomorrow we get the RBA’s financial stability review and a subsequent speech from Governor Stevens. Later in the week we have Japanese data in the form of household spending, inflation, unemployment, and retail sales.
  Current Level Support Resistance Last week's range
AUD/YEN 93.41 91.50 93.50 91.93 - 93.55

Friday 21st March 2:00PM (NZT) - Update
The AUD saw good demand against the Japanese Yen to start the week. This came as equity market stabilized. Since then the price action has been benign, with little in the way of material news in either economy. Next week sees the focus squarely on Japan in the absence of material economic news from Australia. Thursday draws the bulk of the focus with the flurry of releases due. Ahead of then expect the currently 91.50 - 93.50 range to contain the price action as the pair looks increasingly comfortable around these current levels.
The current interbank midrate is:    AUDJPY 92.61

The interbank range this week has been:    AUDJPY 91.50 - 92.85
Tuesday 18th March 3:30PM (NZT)
The past week has seen notable periods of risk aversion that have weighed on this pair overall. We have also seen periods of strength, the sharpest of which came after much stronger than expected Australian employment data last Thursday. However, this was short lived as concerns around the Ukrainian situation saw those gains reversed heading into the weekend. In the early stages of this week we have seen a return of risk appetite as the market comes to realise the west will do little to intervene in the Ukraine. There is little else set for release from Australia this week and from Japan we only have the trade balance and a speech by BOJ Governor Kuroda of any note.  A range of 91.50 to 93.50 looks likely to dominate trading over the coming days.
  Current Level Support Resistance Last week's range
AUD/YEN 92.50 91.50 93.50 91.09 - 93.40

Thursday 13th March 5:00PM (NZT) - Update
For much of the past week the Australian dollar had been under pressure thanks in large part to concerns about a Chinese credit bubble. These worries were linked to the weakness seen in hard commodities like copper and iron ore, and this weighed heavily on the AUD. But a sharp turnaround in the last few hours has come on the back of much better than expected Australian employment data. This caused a surge in demand for AUD and the cross to the JPY is now back up over 0.9300. There is certainly potential for further gains in the near term with resistance just above 94.00 an obvious target. The highlight from next week’s economic releases will be the RBA minutes on Tuesday.
The current interbank midrate is:    AUDJPY 93.13

The interbank range this week has been:    AUDJPY 91.29 - 93.27
Tuesday 11th March 3:00PM (NZT)
The AUD made steady progress against the YEN last week. Lower levels of risk aversion combined with a healthy week of economic news to boost demand for the AUD. The resistance at 94.50 contained the AUD enthusiasm and will remain the upside target in the coming sessions. Today’s lower than expected Australian business confidence numbers have further undermined AUD demand, after coupling with weak Chinese data to start the week. Following what should be an uneventful BOJ monetary policy announcement today, the Australian employment numbers on Thursday provide the focus for the remainder of the week. Even current levels may look like having provided good value buying of YEN with AUD in the coming months.
  Current Level Support Resistance Last week's range
AUD/YEN 93.20 92.50 94.50 90.50 - 94.47

Thursday 6th March 8:30PM (NZT) - Update
This week has seen a steady outperformance from the AUD over the Japanese YEN. With both wider market risk appetite, and positive economic news in its favour, the reversal of last week’s losses has come relatively easy for the AUD. The largest boost came from the materially better than expected retail sales numbers. The resistance at 93.00 should offer some tempering of momentum in the short term at least. The final lead for the week will likely come an external force , in the form of the US employment numbers late Friday. A soft number is not expected, and this would further support the AUD in the shorter term. Next week will see the focus provided by the BOJ monetary policy announcement on Tuesday, ahead of the Australian employment numbers on Thursday.
The current interbank midrate is:    AUDJPY 92.55

The interbank range this week has been:    AUDJPY 90.06 - 92.61
Tuesday 4th March 2:00PM (NZT)
Throughout last week the AUD saw almost constant pressure from the Japanese Yen. Dual forces of weak Australian economic news, and increasing market risk aversion as geo-political tensions increased in the Ukraine, drove the Yens outperformance. Late Friday the pair broke the 91.00 support level and that provides the initial resistance for this week. There is potential for further volatility this week, starting with the RBA monetary policy announcement later on today. This coupled with the raft of other important data releases throughout the week will provide increased focus. In Japan, just the Leading Economic Index on Friday will provide a domestic focus. All this comes with a backdrop of the increased geo-political risks in the Ukraine, and whilst they remain elevated, the increased demand for Yen will remain underpinned.
  Current Level Support Resistance Last week's range
AUD/YEN 90.55 91.00 93.00 90.06 - 92.78

Friday 28th February 3:00PM (NZT) - Update
There has been little in the way of economic releases of impact from Japan so far this week and as a result the JPY has been relatively stable. The Australian dollar however has suffer at the hands of soft data in the latter part of this week and this has seen the cross to the JPY lose substantial ground from the highs set early in the week. The real damage came after private capital expenditure data hit the wires yesterday. That saw the downside accelerate and the low of 90.72 trade. We have seen a small recovery since then although the downside still feels the more vulnerable. Todays raft of data from Japan was of limited impact, albeit positive in nature. Next week from Australia we have the RBA rate meeting along with building approvals, GDP, retail sales, and the trade balance.
The current interbank midrate is:    AUDJPY 91.57

The interbank range this week has been:    AUDJPY 90.72 - 92.78
Tuesday 25th February 3:00PM (NZT)
This pair saw some sharp moves in both directions last week. The weak Chinese manufacturing numbers placing the AUD under some intense pressure, only to recover nicely with strong demand emerging from the investigations lower. The surprising demand for the AUD in Monday’s offshore session has seen the pair look to test the resistance at 93.00 to start this week. Given the AUD is at resistance on multiple crosses, expect tough work for a break of this level at this time. Apart from a passing focus on the Australian private capital expenditure and sector credit numbers on Thursday and Friday respectively, expect the focus to come from Friday’s raft of Japanese news. Of primary attention will be the inflation numbers for Jan, also due for release are the unemployment, industrial production, retail sales and housing starts data.
  Current Level Support Resistance Last week's range
AUD/YEN 92.70 91.00 93.00 91.07 - 92.97

Friday 21st February 1:30PM (NZT) - Update
This pair currently trades close to where it started the week around 92.00, although between then and now it’s been up to 93.00 and down to 91.00. These highs traded immediately after the RBA minutes were released as the Australian dollar received a temporary boost. That was short lived and the pair pulled back towards 92.00 again before yesterday’s poor Chinese manufacturing data caused a sharp test of the downside. We have however seen a good recovery off those lows and this leaves the pair relatively unchanged from the start of the week. There will be little in the way for economic data to drive the pair next week until a rash of releases from Japan on Friday. Manufacturing PMI, household spending, inflation, industrial production, and retail sales are all set for release from Japan on Friday afternoon.
The current interbank midrate is:    AUDJPY 92.31

The interbank range this week has been:    AUDJPY 91.07 - 92.97
Tuesday 18th February 3:00PM (NZT)
Australian economic releases have driven this pair from much of the past week, during which time the cross has ranged around the 92.00 level. Solid business confidence and then weak employment drove the pair higher and then lower, and in the last hour the RBA minutes have seen another test of the topside. Friday's disappointing Japanese GDP data also impacted although to a lesser extent. The pair looks likely to test the 93.00 level in the near term. If resistance around there can be overcome a move to 94.00 should be on the cards. Later today we have the Bank of Japan monetary policy statement which will be closely watched. This is followed by their monthly report on Wednesday, the trade balance on Thursday, and the BOJ minutes on Friday.
  Current Level Support Resistance Last week's range
AUD/YEN 92.55 91.00 93.00 91.03 - 92.97

Friday 14th February 1:30PM (NZT) - Update
It has certainly been an interesting week for this pair. The much better than expected Australian business confidence data propelled the pair straight through the resistance at 92.00. From there the momentum took the pair to highs just below 93.00 before yesterday’s weak Australian employment again pushed it down through that 92.00 level. Whilst it has bounced from the lows, the resistance at 92.00 has contained the price action since the announcement. With the big news next week mostly coming from Japan, the only real Australian focus will be the minutes from the monetary policy decision last week. Given all the action the pair sits close to where it started the week, and this could well be indicative of the price action for periods throughout of 2014, with volatility expected within a wider trading band, but with an absence of a dominant trend for the most part.
The current interbank midrate is:    AUDJPY 92.02

The interbank range this week has been:    AUDJPY 91.03 - 92.97
Tuesday 11th February 3:00PM (NZT)
This pair has been grinding its way higher since the RBA’s rate statement on Tuesday last week. The central bank’s very neutral tone, and lack of comment about the currency being overvalued, caused a material increase in demand for Australian dollars. This demand was reinforced by solid retail sales and trade balance data later in the week. Friday’s release of US employment data also saw the AUD benefit to a greater extent than the Yen, and this drove the cross close to the 92.00 level. A break above 92.00 could open the way for broader gains toward 94.00, however this is probably unlikely ahead of key Australian employment data on Thursday.
  Current Level Support Resistance Last week's range
AUD/YEN 91.75 90.00 92.00 88.25 - 91.91

Friday 7th February 3:30PM (NZT) - Update
The AUD saw initial early pressure from the YEN, but it was not to last. The neutral stance from the RBA couple with improving risk appetite and better than expected retail sales and trade numbers boosted the pair up towards resistance at 91.50. It has tempered a little from the highs, and now US employment numbers provide the near term focus. Next week with the absence of top tier economic news in Japan, the Australian employment numbers on Thursday provides the primary data focus for this pair. Otherwise the lead will come from the markets level of risk aversion. If the emerging markets behave, then further gains for the AUD could well be forthcoming, albeit that is no certainty in the current environment.
The current interbank midrate is:    AUDJPY 91.14

The interbank range this week has been:    AUDJPY 88.25 - 91.65
Tuesday 4th February 3:00PM (NZT)
Wider market risk aversion has translated into bouts of pressure for this pair over the past week. Weakness in global stock markets has seen the Yen strengthen on safe haven flows and this has combined with periods of Australian dollar weakness to push the cross down to a low of 88.25 so far. The immediate focus now turns to the RBA rate statement out later this afternoon. How the central bank interprets recent strong inflation data will be key to the near term direction of the AUD. There is little in the way of data from Japan this week and hence the market will remain focused on moves in global stock indices.
  Current Level Support Resistance Last week's range
AUD/YEN 88.53 88.50 90.50 88.25 - 91.11

Friday 31st January 4:00PM (NZT) - Update
This week has seen the AUD finally manage to arrest its recent fall against the resurgent Japanese YEN. After finishing last week on its recent lows, steadying emerging markets saw risk appetite return and the demand for the AUD with it to start the week. Weaker than expected Chinese manufacturing data again turned the pair around, but in the offshore session overnight the AUD demand again returned. Todays Japanese data was of limited impact and now the focus turns to the RBA monetary policy announcement on Tuesday. It would not surprise to see further AUD demand as positions are trimmed ahead of the release of the statement that will accompany the expected unchanged policy setting.

The current interbank midrate is:    AUDJPY 90.35

The interbank range this week has been:    AUDJPY 88.61 - 91.11
Tuesday 28th January 4:30PM (NZT)
This pair had a dramatic fall in the second half of last week as emerging market concerns weighed on the Australian dollar and caused safe haven buying of Japanese Yen. Poor manufacturing data out of China initially pressured the AUD forcing the currency to give up all the gains made the previous day after Australian inflation data surprised on the strong side. But the real losses for the pair came as ‘risk off’ sentiment dominated trading on the back of volatility in a number of emerging markets. The past 24 hours have seen some calmer trade and as a result this pair has recovered a little ground. The market will however be nervous for much of this week with the Fed announcement due on Thursday morning. Resistance around 90.50 provides the initial topside barrier and will likely prove tough to overcome in the near term. Later in the week from Australia we get readings on new home sales and producer prices. While from Japan we get retail sales, inflation, unemployment, and industrial production data.
  Current Level Support Resistance Last week's range
AUD/YEN 90.20 88.50 90.50 88.46 - 92.69

Friday 24th January 2:00PM (NZT) - Update
For much of this week the Australian dollar outperformed the Japanese Yen. Sharp gains were seen in the wake of the much stronger than expected Australian inflation data and in the hours that followed the weeks highs traded. But the pair failed to capitalize on those gains and when soft Chinese manufacturing data hit the wires yesterday the AUD retreated. The downside then picked up steam as emerging market concerns overnight triggered some ‘risk off’ trading and the cross now looks set to test the 90.00 level. From Australia next week we have business confidence, new home sales, and producer prices data to digest. From Japan there is a flora of data, but the retail sales and inflation results will be of primary focus.
The current interbank midrate is:    AUDJPY 90.64

The interbank range this week has been:    AUDJPY 90.24 - 92.69
Tuesday 21st January 3:00PM (NZT)
The Australian dollar saw pressure from a slightly resurgent Japanese YEN throughout the course of the last week. Whilst there was little data of significance from japan, the soft Australian employment numbers further enhanced a move that was already underway prior to that numbers release. Support at 91.00 contained the AUD’s pressure for the time being, and the bounce back towards mid-range levels has been relatively orderly. Tomorrow’s Australian inflation numbers are due just prior to the BOJ’s monetary policy announcement, and the BOJ monthly economic survey rounds out the economic news on Thursday. The support at 91.00 seems the most vulnerable side for this pair in current conditions, albeit the news of a stabilizing Chinese economy will be welcomed in Australia.
  Current Level Support Resistance Last week's range
AUD/YEN 92.15 91.00 93.00 91.14 - 93.50

Friday 17th January 2:00PM (NZT) - Update
The Australian dollar has struggled against the Japanese Yen this week, although most of the losses came in the wake of the poor Australian employment data yesterday. Until then the pair was only slowly drifting lower, but those figures caused a wave of AUD selling that took the pair down to 91.63 last night. We could see some further weakness in the near term, however there is support around 91.00 that has contained any downside attempts since mid-September last year. The topside is protected by resistance around 94.00 and these two levels have contained much of the price action for the past four months. It seems likely they will continue to define trading over the coming week. From Japan we have the BOJ rate meeting on Wednesday to draw focus. While from Australia we have inflation along with consumer confidence data that will be closely watched.
The current interbank midrate is:    AUDJPY 92.10

The interbank range this week has been:    AUDJPY 91.63 - 93.85
Tuesday 14th January 3:30PM (NZT)
For much of the past week there has been little overall direction for this pair. There have been periods of relative outperformance by the Australian dollar, but in each case the Yen has eventually caught up and the cross has retraced the move. At this point it’s hard to see what could break the pair out of its current range (92.80 - 94.00) that has dominated for much of the past three weeks. The main focus in terms of data will be Australian employment figures set for release on Thursday, which will provide the only chance for some real direction to take hold of the pair.
  Current Level Support Resistance Last week's range
AUD/YEN 93.40 92.00 94.00 92.94 - 93.85

Friday 10th January 3:00PM (NZT) - Update
This pair has seen relatively small ranges this week. Initially the AUD gave up most of the steep gains seen late in the week previous and since then the price action has been uninspiring to say the least. So the pair further establishes itself in the range that has become familiar over the last month. Interestingly, the AUD did not react positively to the better than expected trade balance and retail sales numbers, and with this kind of sentiment it should struggle to push higher against most currencies, including the YEN. Obviously the primary focus in the week coming will be the Australian employment numbers on Thursday, albeit the Japanese trade balance and industrial production numbers will also offer some insight. Expect the 92.00 - 94.00 range to continue to contain the price action in the coming week.
The current interbank midrate is:    AUDJPY 93.27

The interbank range this week has been:    AUDJPY 92.94 - 94.07
Tuesday 7th January 2:30PM (NZT)
It has been a volatile start to the year for this pair. This comes with lower levels of liquidity across all markets through the holiday period. The AUD saw some initial pressure from the JPY, before recovering and then seeing further pressure applied. Whilst both currencies remain under pressure, the YEN looks to be the most vulnerable as the rhetoric from Japanese officials should continue to undermine the performance of the YEN. The resistance at 94.00 has contained the pair for the time being, but will remain the vulnerable side of the current 92.00 - 94.00 range. After today’s Australian trade balance showed a better than expected result, the focus moves to Thursdays building permit and retail sales data. In Japan the focus comes on Friday with the BOJ’s Monthly Economic Survey and the Leading Economic Index release.
  Current Level Support Resistance Last week's range
AUD/YEN 93.23 92.00 94.00 92.91 - 94.07

Friday 20th December 1:30PM (NZT) - Update
This pair has traded a relatively contained range so far this week. With limited domestic leads in either economy so far, the drivers have been provided by the wider market, and in particular the Fed’s decision to taper their QE program. The pair remains well within the wider 91.00 -94.00 trading band that has been in place over the last six weeks or so. Both currencies have seen bouts of pressure at times and this can be expected to continue into 2014 as both central banks remained poised to provide further policy accommodation if required. Today’s BOJ monetary policy decision offered little in the way of surprise. There is potential for sharper than usual moves as the market enters the holiday period and its associated lower levels of liquidity. Expect the wider trading band to contain the price action over the next few weeks.
The current interbank midrate is:    AUDJPY 92.45

The interbank range this week has been:    AUDJPY 91.09 - 92.52
Tuesday 17th December 2:00PM (NZT)
Like most Australian dollar pairs the AUDJPY came under heavy selling pressure in the middle part of last week. Comments from the RBA governor saw the pair trade to its low at 91.79 before recovering a touch. The Bank of Japan (BOJ) has their meeting on Friday although this is likely to have little impact. The biggest risk on the week is centred around the Feds decision on tapering due out Thursday morning. That will likely set the tone for the coming weeks yet the market has no idea which way the decision will go. This would indicate we can expect plenty of volatility in the latter part of the week.
  Current Level Support Resistance Last week's range
AUD/YEN 92.10 92.00 94.00 91.79 - 94.22

Friday 13th December 2:30PM (NZT) - Update
The AUDJPY started the week at elevated levels after last Friday’s US employment numbers caused the pair to rocket higher. Those levels were maintained until mid-week when the Australian dollar started to come under some pressure across the board. Even better than expected employment numbers couldn’t turn the tide, and the downside accelerated after comments by RBA Governor Stevens were released last night. He suggested an AUDUSD rate of 0.8500 was ‘closer to the mark’ than 0.9500 and as a result the currency got hit hard. There is some support just below 92.00, and so far this has contained the downside. But with the AUD struggling to find any real buyers at the moment this pair could easily test that level again in the near term. There is not much out in the way of data next week from Australia, with the highlight being minutes from the last RBA meeting on Tuesday. There is more from Japan with the Tankan surveys for manufacturing and nonmanufacturing set for release on Monday. These are followed by the trade balance and the BOJ monetary policy statement set for release on Friday.
The current interbank midrate is:    AUDJPY 92.53

The interbank range this week has been:    AUDJPY 91.79 - 94.15
Tuesday 10th December 2:00PM (NZT)
This pair had a dramatic fall in the early stages of last week as the AUD came under pressure on the back of the RBA statement and soft GDP figure. But we have seen a dramatic turnaround in the wake of the US employment report on Friday night. The stronger than expected result should have supported the USD, and indeed against the JPY that was the case. But against many other currencies, the AUD included, the USD ended up losing substantial ground. This provided a double whammy result for the AUDJPY that saw it rally sharply up over 93.60. Gains extended early on Monday thanks to strong Chinese export data that was released over the weekend. The prospect/risk of tapering by the US Fed is going to continue to send shockwaves through the markets over the coming weeks and months. It has certainly has a big impact on this pair in the last couple of days. At this point levels over 94.00 seem a step too far and that has proven to be the case for much of the past six months. So we are still stuck in the broad range of 92.00 - 94.00. From Australia this week we have consumer sentiment, inflation expectations, and employment data to digest. From Japan we get the tertiary industry activity index, consumer confidence, and core machinery orders to digest.
  Current Level Support Resistance Last week's range
AUD/YEN 93.90 92.50 94.50 91.79 - 94.15

Friday 6th December 3:00PM (NZT) - Update
After initially starting the week on a positive standing against the YEN, the Australian dollar has seen some considerable pressure. The pressure came as the RBA again reiterated their view that the AUD was uncomfortably high, and then weaker than expected growth numbers added to the downside momentum. For now the inability of the pair to consolidate through the support at 92.00 has stabilized the price action. Near term direction will likely be driven by tonight’s important US employment numbers. The importance of these numbers is because the data could have a major bearing on whether or not the Fed look to initiate tapering of their quantitative easing program in the near term. A strong number would increase the pressure on the AUD as it has been a clear beneficiary of the QE program. Next week sees business and consumer confidence numbers in Australia released ahead of Thursday’s important employment numbers. In Japan the industrial production numbers on Friday will be the primary focus amongst a deluge of second tier data released.
The current interbank midrate is:    AUDJPY 92.25

The interbank range this week has been:    AUDJPY 91.79 - 94.02
Tuesday 3rd December 2:30PM (NZT)
Both the Australian dollar and the Japanese Yen have been on the back foot lately coming under pressure across the board. But over the last few days the AUD has started to outperform the Yen, and this has seen the pair trade up towards 94.00. This relative outperformance was helped by improving Chinese manufacturing data over the weekend which supported the AUD to a degree. Key for the pair will be the RBA rate statement later today and this will likely dictate near term direction. Data wise from Japan this week, we have average cash earnings and leading indicators to draw focus, along with a couple of speeches from Governor Kuroda.
  Current Level Support Resistance Last week's range
AUD/YEN 93.77 92.50 94.50 92.25 - 94.02

Friday 29th November 3:30PM (NZT)
The Australian dollar has struggled against most currencies this week, but so has the Japanese Yen. As a result this pair has had little overall direction, although there have been some sharp moves as periods of pressure on each currency impacted the cross. As the AUD came under pressure in the first half of the week the pair traded down to 92.25 but the downside stalled there. The AUD then got a boost yesterday on the back of capital expenditure data and the pair traded to the weeks high of 93.51. Since then some of those gains have been retraced and the cross remains direction less around 93.00. There is plenty of data from Australia next week to provide direction with building approvals, retail sales, the RBA rate statement, GDP, and the trade balance all set for release. While from Japan the calendar is a little lighter with only capital spending, average earnings, and a speech from Governor Kuroda to draw focus.
The current interbank midrate is:    AUDJPY 92.88

The interbank range this week has been:    AUDJPY 92.25 - 93.51
Tuesday 26th November 4:30PM (NZT)
The Australian dollar dramatically underperformed against the Yen last week in the wake of the Fed minutes. These minutes saw the market re-price the risk of tapering by the Fed in the coming months and this set the AUD on a downward path. The relative weakness was aided by an IMF report and comments from RBA Governor Stevens. This saw the pair trade to a low of 92.55 heading into the weekend. We have seen a recovery off those lows however, in the early stages of this week thanks to news of the US - Iran nuclear deal reached over the weekend. That deal has diminished the attractiveness of the Yen as a safe haven currency and seen it weaken across the board. Expect continued volatile trade in the coming days with overall direction unclear at this point. 92.50 to 94.50 looks like a likely range in the coming week.
  Current Level Support Resistance Last week's range
AUD/YEN 93.12 92.50 94.50 92.55 - 94.56

Friday 22nd November 2:30PM (NZT)
It has been a relatively volatile week for this pair, albeit whilst being contained by a relatively tight trading range. The AUD has seen periods of increased vulnerability, and this has seen it lose ground so far on the week. The minutes from the last Fed monetary policy meeting initiated the vulnerability on the AUD, and these were ably added to by the comments from the IMF and the RBA Governor, with regards to the over valued nature of the AUD. The pair remains contained in the range that has established itself over the last six weeks or so and expect this to continue in the short term. Direction will continue to come from the markets reckoning on the QE tapering profile, along with a respective economic news. In Japan next week the focus comes from the latest inflation and employment numbers on Friday. In Australia there are private capital expenditure numbers on Thursday that will be closely watched.
The current interbank midrate is:    AUDJPY 93.45

The interbank range this week has been:    AUDJPY 93.15 - 94.56
Tuesday 19th November 2:30PM (NZT)
This pairing has been locked in a very contained trading range over the the last week. The AUD saw some initial pressure from the CAD before consolidating and seeing a little grinding appreciation in to the end of the week. Consolidation back through the initial resistance at .9800 was a step too far, and the pair again finds itself back towards the middle of its recent range. Today’s RBA monetary policy meeting minutes saw little new material offered. The AUD remains at elevated levels according to RBA models and a lower dollar would help with the rebalancing of the Australian economy away from reliance on the mining sector for investment. From here the focus moves to the Canadian economic data on Friday with inflation and retail sales numbers to provide the fun.
  Current Level Support Resistance Last week's range
AUD/YEN 93.58 92.50 94.50 92.31 - 94.20

Friday 15th November 2:00PM (NZT) - Update
This week has been a story of two halves for this pair. Whilst the trading range has been somewhat contain, the AUD saw pressure from the YEN early in the week. There was little impetus to drive this, apart from generally lower sentiment in the wider markets. The change has come following the testimony from incoming Fed Chair Janet Yellen. It there was any uncertainty as to her monetary policy bias, this has been put to rest. The QE program has support from Yellen and this naturally has seen the AUD outperform as a result. Further resistance levels at 93.50 and then 94.00 should cap slow further appreciation from the AUD if the recent turnaround continues. Next week the RBA monetary policy meeting minutes on Tuesday provide focus ahead of the BOJ monetary policy statement on Thursday.
The current interbank midrate is:    AUDJPY 93.59

The interbank range this week has been:    AUDJPY 92.35 - 93.60
Tuesday 12th November 2:30PM (NZT)
This pair spiked up to highs of 0.7115 (lows of 1.4055) in the immediate aftermath of the ECB decision to cut rates late last week. But soon after that release we had strong US GDP figures and the AUD substantially underperformed the EUR as a wave of USD buying swept the market. A similar thing happened on Friday evening after more strong US data was released. The US payrolls number caused further buying of USD’s across the board and the AUD again underperformed the EUR. This has resulted in the cross trading below the level it was before the ECB cut rates. Key downside support comes in around 0.6900, but it would take a fair bit more AUD weakness to test that. This week we get GDP readings from France, Germany, and Italy, along with Euro-zone industrial production and a second reading of inflation.
  Current Level Support Resistance Last week's range
AUD/YEN 92.85 92.50 94.50 92.35 - 94.16

Friday 8th November 2:00PM (NZT) - Update
We have seen some choppy price action for this pair over the course of the week. For much of the week the Yen was slowly weakening and this translated into a higher cross against the Australian dollar. But the last 24 hours has seen that all change. Firstly we had Australian employment data yesterday that disappointed and as a result the AUD suffered. But the real action came last night after the release of US GDP data. There was an initial spike as the USD rallied against the Yen and this saw the AUDJPY trade up to near the week’s highs. But it was quickly reversed. Some big Yen buying turned up, perhaps triggered by stock markets falling 1%, and the move took on a life of its own. As the Yen rallied the AUD was sold and the result was a sharp move from 94.00 down to 92.35. We have seen a small retracement so far and this could go further, but the market will be nervous after such a nasty move, and further volatility is likely. Next week is relatively light on economic news from Australia with Tuesday’s NAB business confidence data offering the primary focus. From Japan we have the current account, core machinery orders, and GDP to digest.
The current interbank midrate is:    AUDJPY 92.75

The interbank range this week has been:    AUDJPY 92.35 - 94.16
Tuesday 5th November 1:30PM (NZT)
This pair has seen trade contained by a relatively tight trading range for much of last week. The short term resistance at 93.50 was broken yesterday in the wake of the materially stronger than expected Australian retail sales numbers. Since then the pair has consolidated through that resistance and has seen sideways trade ahead of the RBA monetary policy announcement later on today. No change is expected from the RBA, but any further move back towards a neutral bias will continue to provide underlying support for the AUD. The focus will then move to tomorrow’s release of the meeting minutes from last weeks unchanged BOJ monetary policy decision. Thursday offers the monthly Australian employment numbers, and these will be keen watched as usual. Barring any surprise, expect the current 92.50 - 94.50 wider range to continue in the short term.
  Current Level Support Resistance Last week's range
AUD/YEN 93.81 92.50 94.50 92.67 - 93.85

Friday 1st November 3:00PM (NZT) - Update
There has been little overall direction for this pair over the course of the week. Comments from RBA Governor Stevens on Tuesday helped the pair trade to its lows as the Australian dollar came under selling pressure. Since then however, action has been muted, with the Bank of Japan (BOJ) holding steady at their rate meeting and maintaining a positive outlook. There is support towards 92.50 which has yet to be tested while initial topside resistance comes in around 93.50. There is plenty of data from Australia next week to drive the cross with retail sales, the RBA rate statement, trade balance, and employment numbers are all set for release. While from Japan we get a speech from BOJ Governor Kuroda, and the minutes from the last BOJ meeting.
The current interbank midrate is:    AUDJPY 92.95

The interbank range this week has been:    AUDJPY 92.67 - 93.73
Tuesday 29th October 3:00PM (NZT)
Last week’s big ‘risk off’ move sent the Australian dollar tumbling, and at the same time benefited the Japanese Yen. The pair remained on the back foot trading to a low of 93.01 on Friday. We did see a small recovery in the early stages of this week, but the cross has since turned back down again. The latest leg lower comes on the back of comments from RBA Governor Stevens that have weakened the AUD further. The risks are all still skewed to the down side and a move below support around 92.70 would confirm the negative near term outlook. Later this week from Australia we have building approvals, new home sales, and producer prices data to digest. While from Japan we have the BOJ rate review along with household spending, retail sales, and industrial production.
  Current Level Support Resistance Last week's range
AUD/YEN 93.18 92.50 94.50 93.01 - 95.69

Friday 25th October 1:30PM (NZT) - Update
Price action this week in the AUDJPY has been dominated by the wave of ‘risk off’ sentiment that swept through the market on Wednesday. It was triggered by concerns about bad debts in the Chinese banking system, a spike in short term Chinese short term money market rates, and a resulting fall in Asian stock markets. Traders dumped the AUD and bought the JPY as a safe haven. This caused the cross to collapse from 95.65 to 93.43, before staging a small bounce. But again sellers emerged and the pair currently trades close to its low for the week. This weakness has left the pair looking vulnerable and the cross could easily fall further before running into initial support around 92.50. Next week from Japan we have retail sales, industrial production, and the BOJ monetary policy statement. While From Australia we get new home sales, building approvals, private sector credit, and producer prices.
The current interbank midrate is:    AUDJPY 93.30

The interbank range this week has been:    AUDJPY 93.19 - 95.69
Tuesday 22nd October 2:20PM (NZT)
This pair has seen a relentless grind higher helped by the RBA minutes last week and a worse than expected result for Japanese trade balance yesterday. The cross currently sits just below recent highs and this is keeping the focus on further gains. A sustained move up through 95.00 would open the way for gains to the next level of resistance around 97.00. The only other data this week from Japan comes in the form of inflation on Friday. Ahead of that we get Australian inflation data on Wednesday, and the US employment report tonight, which could add some volatility.
  Current Level Support Resistance Last week's range
AUD/YEN 94.76 93.00 95.00 93.27 - 94.96

Friday 18th October 2:00PM (NZT) - Update
We have seen good gains in this pair over the last week on the back of a strong Australian dollar. The local currency benefited from the very neutral RBA minutes and a return of positive risk sentiment as a deal in US political standoff was reached. The latter was also somewhat negative for the Yen and this saw the high of 94.49 trade yesterday. There is decent resistance around 94.50 and it has so far capped the pair, although pullbacks have been limited. A failure to break above there soon could well see the tide change and a move back down towards 93.00. Next week from Australia we have inflation data and the RBA annual report to draw focus, while from Japan we have the trade balance and inflation data to digest
The current interbank midrate is:    AUDJPY 94.31

The interbank range this week has been:    AUDJPY 92.43 - 94.49
Tuesday 15th October 2:20PM (NZT)
The driving force in this pair over the last week as been the political standoff in the US. As news of a potential deal did the rounds late last week we saw a return of appetite for risk come back into the market. This was positive for the AUD and negative for the Yen and the pair rallied to 93.44. That deal fell apart over the weekend and the AUDJPY gapped lower in early Monday morning trade. But it recovered quickly and has made further gains as it seems likely a deal will be reached very soon. The next target is the 19th September high of 94.48, until we get confirmation that a political solution has been reached in the US there is always the chance of a sharp reversal. Later this week from Australia we get business confidence data and a speech from RBA Governor Stevens to focus on. While from Canada we have manufacturing sales and inflation data to digest.
  Current Level Support Resistance Last week's range
AUD/YEN 93.81 92.50 94.50 91.07 - 93.85

Friday 11th October 12:00PM (NZT) - Update
The Australian dollar saw some slow grinding appreciation against the Japanese Yen this week, but that accelerated last night. The snap higher in the last 12 hours comes as talk of a temporary increase to the US debt limit could be put in place. With the reduced risk of a US default we have seen a ‘risk on’ sentiment return to the market which is positive for the Australian dollar and negative for the Yen. The cross has traded up to 93.00 so far and all eyes remain on the US as the details of any agreement still need to be ironed out. There is little in the way of data from Japan next week, while from Australia we get minutes from the latest RBA meeting along with data on home loans and motor vehicle sales.
The current interbank midrate is:    AUDJPY 92.89

The interbank range this week has been:    AUDJPY 91.00 - 93.04
Tuesday 8th October 2:15PM (NZT)
The past week has seen mostly sideways action in this pair with dips below 91.00 proving short lived. However, the topside is also tough going with most of the price action being capped by resistance around 92.00. As the stalemate in Washington drags on the risks for this pair are to the downside. The Yen is emerging as the favourite safe haven play for investors and with any deal looking a long way off further Yen strength seems likely. Things could get very wild if the US fails to reach an agreement on the debt ceiling by Oct 17. We could then see a flight from risk currencies, such as the AUD, and this would combine with further Yen strength. If that were to happen we would see sharp losses for this pair. Until then the market will be a little wary and the small downside bias will dominate. We do get key Australian employment data on Thursday to digest as well.
  Current Level Support Resistance Last week's range
AUD/YEN 91.23 90.80 92.00 90.74 - 92.39

Friday 4th October 2:00PM (NZT) - Update
It has been a choppy week for this pair as gains on the back of the RBA statement on Tuesday could not be sustained. Some soft building consent and trade balance data on Wednesday undermined the Australian dollar to a degree. The Yen also benefited from good survey results from both the manufacturing and service sectors, as well as the announcement that the government will proceed with the planned sales tax increase. For the time being support around 90.75 has contained the downside and this should continue into the weekend. Developments in Washington could easily influence this pair over the coming weeks if we get into a situation where safe haven flows start to dominate. In that instance a move down through 90.00 would be likely.  Next week we get the BOJ monthly report, current account data, minutes from the latest BOJ meeting, core machinery orders, and consumer confidence. While from Australia we have consumer sentiment, business confidence and employment data to digest.
The current interbank midrate is:    AUDJPY 91.52

The interbank range this week has been:    AUDJPY 90.74 - 92.39
Tuesday 1st October 2:15PM (NZT)
It has been an interesting period for this pair over the last seven days. The wider market risk aversion has seen YEN demand place pressure on the AUD. This has seen a bit of a retracement in the last few hours, but the price action has stabilized as we approach the RBA monetary policy statement a little later on today. The manufacturing and services data in Japan was reasonably positive today, albeit of limit impact as we approach the important announcements from the RBA and Japanese Government (sales tax) later on today. The combination of these announcements will provide the lead in the short term. The US government shutdown will also be a factor that will likely see the YEN maintain its overall pressure in the short term.
  Current Level Support Resistance Last week's range
AUD/YEN 91.56 91.50 93.50 90.74 - 93.58

Friday 27th September 2:00PM (NZT) - Update
The Australian dollar spent most of the week slowly losing ground against the Japanese Yen, trading to a low of 91.92. Yesterday however, we got a sharp correction higher on the back of Yen weakness. That was triggered by the announcement that Prime Minister Abe will signal some stimulus measures at the same time he releases his decision on the sales tax increase. That saw a bout of Yen selling which allowed this pair to rally from near the weeks lows. Direction from here is less than certain and we could be in for some choppy price action over the coming days. The US debt ceiling debate could stir things up then on Tuesday we have the RBA rate decision and statement. Add to that a raft of data out of Japan next week which includes industrial production, retail sales, household spending, manufacturing and nonmanufacturing index’s, and the Bank of Japan monetary policy statement.
The current interbank midrate is:    AUDJPY 92.58

The interbank range this week has been:    AUDJPY 91.92 - 93.58
Tuesday 24th September 2:00PM (NZT)
93.50 has proven to be an interesting level for this pairing. That level had capped the topside until last week’s Fed announcement gave the Australian dollar a good boost and once it gave way the cross quickly traded up to 94.48. The pair then drifted lower and traded back down through 93.50 to a low of 92.63 early on Monday morning. We have seen a bounce from that low but again 93.50 has capped the strength on a couple of occasions. This has left the pairing looking a little vulnerable and we could be in for a broader pullback to support around 91.60. The last few hours have seen some weakness in the AUD and this cross is now back below 93.00. While 93.50 keeps a lid on any strength the risk is for further downside action.
  Current Level Support Resistance Last week's range
AUD/YEN 92.90 91.50 93.50 92.12 - 94.48

Friday 20th September 2:00PM (NZT) - Update
Thursday’s announcement by the Fed that there will be no tapering of quantitative easing this month provided the fuel for this pair to break above resistance at 93.50. The Australian dollar made bigger gains in the wake of that announcement, and although we have seen a small correction from its highs the risk still looks to be on the topside for the pairing. The 93.50 level now becomes support and while above there the target is a test of 95.50. Next week is another light one for economic data with only inflation figures from Japan and the RBA annual report and financial stability review from Australia.
The current interbank midrate is:    AUDJPY 93.76

The interbank range this week has been:    AUDJPY 92.12 - 94.48
Tuesday 17th September 2:00PM (NZT)
After last week’s poor Australian employment data the AUDJPY fell below 93.00 trading down to 91.72. Since then however the pair has lacked any real direction with only a small move higher yesterday morning. This came as the Australian dollar outperformed the Yen on the back of the Larry Summers announcement. The topside has been contained by 92.80, and we can likely expect more range trading ahead of the Fed’s tapering announcement on Thursday. There is only second tier data out of Australia for the rest of the week and nothing from Japan until Thursday, when we get the trade balance and a speech by Governor Kuroda.
  Current Level Support Resistance Last week's range
AUD/YEN 92.37 91.50 93.50 9.69 - 93.57

Friday 13th September 2:00PM (NZT) - Update
It has been a game of two halves for this pairing so far this week. Amid increasing wider market risk appetite following developments in Syria, the AUD outperformed strongly to start the week. Progress slowed around resistance at 93.50 and then came the disappointing Australian labour numbers and the pressure immediately came onto the AUD. There has not been a serious push to pressure the support at 91.50 as yet, but the 91.50 - 93.50 range looks likely to contain the price action ahead of the crucially important FED monetary policy meeting next Wednesday. This meeting will be the primary focus across all markets in the coming sessions, and any material moves ahead of that announcement would surprise.
The current interbank midrate is:    AUDJPY 92.35

The interbank range this week has been:    AUDJPY 91.33 - 93.57
 
Tuesday 10th September 2:00PM (NZT)
The Australian dollar has been making relentless gains against the Japanese Yen since the beginning of September. These gains have come as geopolitical concerns have eased and we have seen improved data from both Australia and China. The pair is now trading its highest level since late July and a test of resistance around 93.00 could be next on the cards. That level should prove tough to crack have capped price action on two previous occasions since the pair broke down in early June. Over the coming days from Australia we get business confidence, consumer sentiment, and employment figures. From Japan the focus will be on the minutes from the latest policy meeting released on Wednesday.
  Current Level Support Resistance Last week's range
AUD/YEN 92.02 90.00 93.00 89.13 - 92.17
 
Friday 6th September 2:00PM (NZT) - Update
The Australian dollar has seen some dramatic appreciation against the Japanese YEN this week. There have been dual drivers for the move. The paring back of expectations for further easing from the RBA has certainly helped drive AUD demand. This factor coupled with lower levels of global risk aversion this week that undermined YEN demand, has eased the way for this pair to move higher. However, the momentum has waned in the last couple of sessions, and further AUD appreciation will prove harder fought from current levels.  Next week sees a raft of second tier data in both economies. Of primary focus in Japan will be the release of the minutes from this week’s benign BOJ monetary policy meeting. In Australia Thursday’s employment number provides the focal point. There is a raft of resistance levels up to 92.50, so a slowing in appreciation comes of no surprise for this pair. In the short term, the current levels and just above look to offer good levels to sell AUD and buy YEN.
The current interbank midrate is:    AUDJPY 91.10

The interbank range this week has been:    AUDJPY 86.92 - 91.58
Tuesday 3rd September 4:00PM (NZT)
After seeing initial pressure early last week, the AUD has made a solid recovery against the Japanese YEN. Good numbers in Australia have helped boost demand and the pair is now close to the highs for the week. This week is a big one for news in Australia. The stronger than expected building approvals, and weaker retail sales numbers have balanced each other off. Later on today the RBA will likely leave monetary policy unchanged at their announcement, but the statement will be very closely monitored. Wednesday sees the 2nd quarter GDP number released, and this comes ahead of the trade balance on Thursday. In Japan the primary focus will be the statement from the BOJ as they leave monetary policy settings unchanged at their meeting on Thursday. The pair is close to resistance at 90.00, and this level remains the primary target for further AUD appreciation.
  Current Level Support Resistance Last week's range
AUD/YEN 89.44 87.50 90.00 86.57 - 89.65

Friday 30th August 2.00PM (NZT) - Update
The widespread risk aversion that we saw across markets in the early part of the week was most evident in this pairing. Safe haven flows into the Yen saw it outperform most other currencies. Against the Australian dollar the cross fell from 89.20 to just over 86.50. Since then we have seen a recovery as some pressure has been relieved in emerging markets and the outlook for action in Syria is limited. There is certainly the chance that either of those influences could again spark safe haven flows over the coming days, but in the absence of fresh developments we can likely expect the Yen to slowly weaken back towards 89.00 to the AUD. The highlights for next week will be the Reserve Bank of Australia rate decision on Wednesday and the Bank of Japan monetary policy statement on Thursday.
The current interbank midrate is:    AUDJPY 87.70

The interbank range this week has been:    AUDJPY 86.47 - 89.27
 
Tuesday 27th August 4:00PM (NZT)
Better data on Chinese manufacturing late last week saw an increase in demand for Australian dollars and helped this pair recover off the 87.50 level. That recovery made it to 89.50 at the end of the week and the pair opened yesterday just under there. There was little in the way of direction until a few hours ago when rumours of a US strike on Syria caused some risk aversion and selling of the AUD. The AUDJPY quickly traded down to just over 88.00. It seems likely that any strike on Syria would be very limited and hence I suspect the current weakness could also be short lived. Look for more directionless trade between 87.50 and 89.50 in the near term. From Japan on Thursday we get retail sales figures then on Friday we get a rash of data including inflation, industrial production, household spending, and unemployment. This week from Australia we get data on construction output, capital expenditure, and private sector credit.
  Current Level Support Resistance Last week's range
AUD/YEN 88.32 87.50 90.00 87.43 - 89.41

Friday 23rd August 2.00PM (NZT) - Update
After failing at the 90.00 level at the beginning of the week the Australian dollar quickly lost ground against the Japanese Yen. The pair quickly traded down to near 87.50 before finding support. This level contained the downside for a couple of days before the AUD began to outperform the JPY thanks to some improved Chinese manufacturing data. The cross has now recovered back above 89.00 and may well look to retest resistance at 90.00. I would continue to expect that to cap the topside for now. Next week there is plenty to digest from Japan with retail sales, household spending, inflation, and industrial production all set for release. While from Australia we have data on construction, home sales, private sector credit, and private sector expenditure to digest.
The current interbank midrate is:    AUDJPY 89.37

The interbank range this week has been:    AUDJPY 87.43 - 90.13
Tuesday 20th August 3:00PM (NZT)
The Australian dollar has tried twice in the last few days to break above 90.00 against the Yen. Both attempts have failed with sharp rejection’s to the down side. This now leaves the pair looking vulnerable and a break below 88.60 would confirm the short term negative outlook. The focus will then move to 87.50 ahead of recent cycle lows at 86.41. There is little fundamental data out of either Japan or Australia for the rest of the week so the pair will take its lead from the wider market.
  Current Level Support Resistance Last week's range
AUD/YEN 88.78 87.00 89.00 88.52 - 90.13

Friday 16th August 2.00PM (NZT) - Update
This pair has seen further volatility in line with the wider markets this week. On the second attempt this week, the pair blasted through initial resistance at 89.00. The break saw the AUD grind higher and only find any real resistance at 90.00 level. Last night saw brutal price action that could not be anticipated. Immediately after reaching the week’s highs, the YEN saw huge demand in a short space of time. This demand spilled over from some massive moves higher from the YEN against the US dollar. The pressure on the AUD saw the pair form an initial base at 89.00 , before again consolidating back through that level. With no notable triggers for the move, the price action mirrors expectations for increased volatility within a broad range for the remainder of 2013. Next week look for the RBA monetary policy meeting minutes on Tuesday to provide some focus, with most of the lead coming from the wider market dynamics.
The current interbank midrate is:    AUDJPY 89.08

The interbank range this week has been:    AUDJPY 88.07 - 90.08
Tuesday 13th August 3:00PM (NZT)
The Australian dollar has continued to stabilize against the YEN over the last week. The inability of the pair to consolidate its break of support at 87.00 has seen it recover to test resistance at 89.00. The grinding recovery from the week’s lows was in no small part attributable to some better economic news from China. It has been a relatively quiet start to the week, even with the weaker than expected preliminary Japanese 2nd quarter GDP numbers. Today’s BOJ monetary policy meeting minutes offered little in the way of new insight. Australian business confidence was again a touch weak. Tomorrow sees the weeks focus rounded out by the Australian consumer sentiment and wage price data. A consolidated break of the 89.00 resistance this week would open up the way for further recovery for the AUD from the recent lows.
  Current Level Support Resistance Last week's range
AUD/YEN 88.76 87.00 89.00 86.43 - 89.08

Friday 9th August 2.00PM (NZT) - Update
The AUDJPY traded to fresh cycle lows this week as the JPY out performed the AUD in the first half of the week. The pair has bounced from those low however, as the AUD gained support from much better than expected Chinese trade data. The cross is currently trading just over 88.00, and could easily drift higher to resistance at 89.00 without changing the overall picture. That is to say, while below 89.00 the risks are all still skewed to the down side and only a sustained move above there will take the pressure off the pair.
The current interbank midrate is:    AUDJPY 87.90

The interbank range this week has been:    AUDJPY 86.43 - 89.08
Tuesday 6th August 1:45PM (NZT)
This pair is currently trading only a few points above its recent lows that were made on the 1st Aug at 87.25. Between then and now the AUDJPY has traded as high as 89.08, however the cross turned back down on Friday evening in the wake of the US employment report. The JPY materially outperformed the AUD after that data, and with the expectation of a 25 point rate cut by the RBA today the pair has traded heavily. Along with the RBA decision today we get the BOJ policy statement on Thursday to digest. Barring any real surprises it seems likely the broader downtrend will remain in play. Any potential strength will run into the first line of resistance at 89.00 which should cap in the near term.
  Current Level Support Resistance Last week's range
AUD/YEN 87.35 87.00 89.00 0.87.25 - 89.08

Friday 2nd August 2.00PM (NZT) - Update
For most of this week the AUDJPY cross has been driven by weakness in the Australian dollar. A soft speech from RBA governor Stevens drew a sharp reaction lower in the currency on Tuesday and that was backed up yesterday by very poor manufacturing data. The pair made a low at 87.25 yesterday and has since staged a small recovery thanks to weakness in the JPY. The JPY came under lots of pressure last night against the USD and this has helped the AUDJPY bounce from its lows. There is a full economic calendar for Australia next week with retail sales, trade balance, the RBA rate announcement, and employment data all set for release. We also have the Bank of Japan policy meeting next week along with current account and consumer confidence numbers.
The current interbank midrate is:    AUDJPY 88.55

The interbank range this week has been:    AUDJPY 87.25 - 91.03
 
Tuesday 30th July 4:45PM (NZT)
The AUD has seen constant pressure from the YEN throughout the last week. The low Australian inflation numbers has left the way open for further easing to the cash rate from the RBA. RBA Gov. Steven’s reiterated this sentiment today with his comments, which looked designed to further undermine demand for the AUD. Initial support looks to be in place at 89.00, and any recovery from the AUD seems unlikely unless the US FED surprise with they guidance later on this week. Any recovery from the AUD will find initial resistance at 91.50, and then 92.50 above, albeit those levels seem a long way away in the current environment.
  Current Level Support Resistance Last week's range
AUD/YEN 89.38 89.00 92.50 89.38 - 92.60

Friday 26th July 2.00PM (NZT) - Update
The AUD has seen some pressure from the YEN this week. Most of the pressure came after the lower than expected Australian inflation numbers and Chinese manufacturing data, albeit the pressure was not to be sustained. The pair sits squarely in the recently comfortable 90.50 - 92.50 range which has been established over the last month. Next week offers little in the way of top tier economic news for either economy. Further Chinese manufacturing numbers will be closely followed and could again be of impact. The opposing forces of on-going Japanese monetary stimulation and slowing Australian growth prospects could keep this pair range bound in the short term at least.
The current interbank midrate is:    AUDJPY 91.78

The interbank range this week has been:    AUDJPY 91.45 - 92.60
Tuesday 23rd July 3:00PM (NZT)
After making gains from below 90.00 in the first half of last week, the Australian dollar has traded mostly sideways against the Japanese Yen. Resistance around 92.50 has capped the topside for now, with dips limited to 91.50 since mid-last week. The pair is currently trading toward the lower end of this range thanks to some positive Yen sentiment in the wake of the Japanese upper house elections over the weekend. Australian inflation data tomorrow will be important as the market tires to weigh the chance of another rate cut this year by the Reserve Bank of Australia (RBA). Tomorrow also sees Japanese trade data, and Friday we get Japanese inflation. Look for 92.50 (or 93.00 on the wide) to continue to cap any near term strength.
  Current Level Support Resistance Last week's range
AUD/YEN 92.35 90.50 92.50 98.80 - 92.56

Friday 19th July 12.00PM (NZT) - Update
It’s been mostly one way traffic for the AUDJPY this week. The has been largely on the back of weakness in the Yen. However, the cross also got a boost from a jump higher in the AUD after the RBA monetary policy meeting minutes were released. For now it looks like further gains are on the cards, with the target a test of the July highs around 93.00. That level will probably cap the topside in the near term however, and the market will have to do some work to overcome it. Next week we have inflation data from both Australia and Japan as well as Japanese trade data.
The current interbank midrate is:    AUDJPY 92.33

The interbank range this week has been:    AUDJPY 89.92 - 92.33
Tuesday 16th July 3:30PM (NZT)
This pair continues to see relatively large inter week ranges. Last week saw the AUD under increasing pressure that drove the pair over 3.5% lower in the latter part of the week. In part the fears around the situation in China drove the move. These were alleviated somewhat on Monday as the Chinese 2nd QTR GDP hit expectation. This has driven a recovery for the AUD, and today’s RBA monetary policy meeting minutes have further eased the way higher for the pair. Tomorrow will see the release of the BOJ meeting minutes and these will also be closely watched. The remaining focus for the week will come from the Australian business confidence numbers on Thursday. The pair looks more comfortable back up above the 90.50 level, which should provide support this week. Resistance will likely been seen at 92.50, but there will have to be improved global sentiment to test that level this week.
  Current Level Support Resistance Last week's range
AUD/YEN 91.40 90.50 92.50 89.70 - 93.07

Friday 12th July 2:45PM (NZT) - Update
It’s been a week of two halves for the AUDJPY. Early in the week as the Australian dollar regained some ground, and this pair traded up to its highs at 93.07. This was helped by weakness in the Yen. Things all turned around in the middle of the week however, and it’s been one way traffic since then. The AUD has been weighed on by soft Chinese data and the rumour of more to come. While the JPY has benefited from an upbeat BOJ statement after their policy meeting, and a report from the IMF revising up the growth outlook for Japan. The pair looks vulnerable now and a test toward recent lows around 89.10 cannot be ruled out. Minor support at 90.10 has held the downside for now but it’s not a big level and could easily give way on any further weakness. Only a move back about 91.50 will take the pressure off the downside. Next week we get the minutes from the BOJ meeting as well as Australian business confidence and minutes from the RBA meeting.
The current interbank midrate is:    AUDJPY 90.85

The interbank range this week has been:    AUDJPY 90.11 - 93.07
Tuesday 9th July 4:00PM (NZT)
The last couple of weeks have seen the Australian dollar slowly but surely grind out gains against the Japanese Yen. That trend has continued in the early part of this week, with the pair trading up to 92.34 on Monday. It has yet to have a real test of resistance at 92.50 and until that is overcome there is still the risk of further downside. Above 92.50 and the outlook does brighten. In that case the risks will be skewed to the upside with the next target being 95.00. There is plenty of data out of both countries this week that could impact the pair. The key events are the BOJ policy meeting and Australian employment, both out on Thursday.
  Current Level Support Resistance Last week's range
AUD/YEN 92.20 90.50 92.50 90.16 - 92.42

Friday 5th July 2:45PM (NZT) - Update
Like most of the Australian dollar crosses, the AUDJPY fell in the wake of the RBA monetary policy meeting and resulting comments from officials. However, it has recovered nicely off its lows as officials comments have been ‘clarified’, and the market has realized they misinterpreted them. There is a lack of real momentum in the move, and the pair has failed to test resistance around 92.50 so far. US employment numbers tonight could certainly add volatility, and the near term picture is far from certain. There is a very small upside bias to trade over the last two weeks, but for that to continue the pair needs to overcome 92.50. Key releases next week include Japanese trade data and the BOJ rate decision, while out of Australia there are consumer sentiment and employment numbers.
The current interbank midrate is:    AUDJPY 91.52

The interbank range this week has been:    AUDJPY 90.16 - 92.42
Tuesday 2nd July 3:00PM (NZT)
After a long period of sideways trade the AUDJPY finally started to find some life in the second half of last week. Thanks in most part to weakness in the Yen, the pair started to push higher. Aside from a dip late on Friday as the AUD made fresh cycle lows, the gains have continued. These gains come in the face of better readings out of Japan on business optimism released yesterday. Yesterday also saw the release of a manufacturing index for Australia that has shown a solid improvement. The cross is currently trading just above 92.00 and there is easily potential for this move to extend to 93.00 or even 95.00. The RBA rate decision is an obvious risk today, and later in the week we get retail sales, trade balance and building approvals.
  Current Level Support Resistance Last week's range
AUD/YEN 91.71 91.00 93.00 89.58 - 92.23

Friday 28th June 3:15PM (NZT) - Update
After trading sideways for much of the past two weeks, the Australian dollar's value relative to the JPY, found a little bit of upside momentum in the last few days. The week’s high of 91.66 traded last night and since then there has been a small pull back. It’s hard to get too excited about direction from here. There is potential for further upside toward 93.00 although that should cap any near term strength.  A move back below 90.70 would leave the pair looking vulnerable and open the way for a test of 89.50 again. Next week could prove decisive for the pair with the RBA rate decision and retail sales to trade off.
The current interbank midrate is:    AUDJPY 91.40

The interbank range this week has been:    AUDJPY 89.58 - 91.66
Tuesday 25th June 3:20PM (NZT)
Through much of the currency action in the past week the Australian dollar versus the JPY has been surprisingly quiet. It has maintained a tight range trading sideways between 89.00 and 91.00. It’s hard to say whether this is just a pause in the broader downtrend or the pair is building a base for a corrective rally from here. But as long as 89.00 continues to support, the chance of a bounce toward 93.00 is very real. There is plenty of data out of Japan this week to spark a move, while Australia only has private sector credit to focus on.
  Current Level Support Resistance Last week's range
AUD/YEN 90.38 89.00 91.00 89.10 - 91.21

Friday 21st June 3:45PM (NZT) - Update
After a lot of volatility over the past couple of weeks, this pair has been rather subdued since the Fed announcement early Thursday morning. As the Australian dollar and Japanese Yen both lost a lot ground against the USD, their relative losses were evenly matched. This has seen the AUDJPY cross trade mostly sideways around the 90.00 level. Support around 89.00 has contained the downside for now, and while that’s the case there is the chance of a bounce. However, the broader trend recently has been down and there is little in the way of signals to say that has changed. The risks remain skewed to further weakness. With little in the way of Australian data next week the focus will be on Japanese household spending, retail sales and unemployment.
The current interbank midrate is:    AUDJPY 89.77

The interbank range this week has been:    AUDJPY 89.10 - 91.50
Tuesday 18th June 3:30PM (NZT)
Considering the recent moves seen in the AUDJPY, and the Japanese Yen in general, the last few days have represented some relative calm. The pair has traded sideways broadly contained between 90.00 and 91.50. It’s hard to imagine it will stay this way for long however with any talk of tapering by the US Fed on Thursday morning potentially having a big impact on both these currencies. The AUDJPY currently trades just about 90.00 and while it holds below resistance at 92.50, the risk is for further losses. The next downside target is 87.80.
  Current Level Support Resistance Last week's range
AUD/YEN 90.15 89.00 92.50 88.95 - 93.70

Friday 14th June 3:15PM (NZT) - Update
The Japanese Yen has been on a rollercoaster this week and that has flowed through into the cross rate with the Australian dollar. The pair has had some big moves and is right in the thick of it, with regard to market volatility. The recent lows at 88.95 were made yesterday and there was a solid recovery from there overnight, as the AUD found some genuine buying. That recovery has however failed at the first line of resistance around 92.50 and the pair now turns south again. Where it goes from here is a very tough call. The Japanese stock market that was down 6% yesterday, is up 3% so far today. That should see the Yen give back some of its recent gains and the AUDJPY cross head higher. But it seems the wild moves of late has caused a reduction in liquidity, which could only serve to magnify any further moves. We can expect a lot more action over the coming sessions and into the Fed meeting next week.
The current interbank midrate is:    AUDJPY 91.05

The interbank range this week has been:    AUDJPY 88.95 - 93.70
Tuesday 11th June 3:20PM (NZT)
After a major bout of JPY strength late last week this pair traded to a low of 90.55. Although the Australian dollar has remained soft, the JPY has given back much of it’s gains and the cross has recovered to trade back up over 93.00. As I write this, another round of AUD selling seems to be taking place and the AUDJPY is turning back down. The only safe bet is for more volatility, with more downside action the immediate focus. This week sees the BOJ rate decision and Australian employment data to help keep things lively.
  Current Level Support Resistance Last week's range
AUD/YEN 92.62 90.50 93.50 90.55 - 97.20

Friday 7th June 5:15PM (NZT) - Update
Nowhere has the pickup in volatility in financial markets been more evident than in the AUDJPY cross. It has fallen around 6% this week alone. A very soft AUD wasn’t helped this week when GDP figures missed expectation. And the JPY has seemed to find all sorts of strength out of nowhere. Reports are claiming a lack of concrete new stimulus measures are to blame for the Yen’s rise, but it seems it’s as much about market positioning. Last night saw liquidity dry up and some wild moves in many currencies on rumours of a large USD sell order. The JPY was a big benefactor of that action, and the AUDJPY continued lower at pace. The only safe bet is that we are probably going to see lots more volatility. Tonight’s US employment data could easily spark more wild moves. The next major support level comes in around 89.90. Topside resistance is a long way away at 96.90.
The current interbank midrate is:    AUDJPY 91.55

The interbank range this week has been:    AUDJPY 91.24 - 97.38
Tuesday 4th June 4:50PM (NZT)
It was a curious week’s price action for this pair last week. The AUD saw initial demand before coming under some real pressure as the slower Chinese economic numbers, coupled with stronger data in the US. This week has seen a reversal of some of last week’s moves. This comes as the data in the US took a turn, and today’s RBA monetary policy meeting approaches. Expect no change from the RBA, and this pair to have its fate decided by the upcoming US economic data in the short term, along with the first quarter Australian GDP number on Wednesday. Further weak data in the US will see the AUD further its recovery, while the opposite is true if the data recoups its sentiment from last week.
  Current Level Support Resistance Last week's range
AUD/YEN 97.00 96.00 98.00 96.06 - 97.44

Friday 31st May 2:25PM (NZT) - Update
The increased volatility can has continued for this pair this week. The AUD saw sharp appreciation early in the week as the YEN saw increased pressure across the board. However, this move was quickly reversed and the pair again bounced off support at 97.00, and subsequent trade has seen sideways price action. The support at 97.00 is now well established. If we see renewed pressure on the AUD and consolidation through this support level, further downside would be forthcoming. Correspondingly, resistance at 99.50 remain in place. These parameters will likely contain  the price action in the week ahead, which will have its focus dominated by Australian economic news for this pair.
The current interbank midrate is:    AUDJPY 97.36

The interbank range this week has been:    AUDJPY 96.97 - 99.28
Tuesday 28th May 4:50PM (NZT)
Like most AUD crosses the AUDJPY has been trading heavily thanks to a very weak AUD. However, this pair seems to have held a test of key support at 96.90 and now looks to be trying to stage some sort of comeback. This resurgence is largely on the back of some JPY weakness. The pair is currently trading at 98.00 with key upside resistance coming in at 99.50. A move below support at 96.90 would be a very weak signal, and further losses would follow. As long as it remains above there however, a reasonable chance remains of test back up toward 99.50. And a  move above the 99.50 level, and the picture will look a lot less bleak.
  Current Level Support Resistance Last week's range
AUD/YEN 98.25 96.90 99.50 96.98 - 100.80

Friday 24th May 3:00PM (NZT) - Update
The AUDJPY spent much of the week in directionless trade around 100.50. That all changed yesterday as the pair plummeted though 100.00, and subsequently went all the way down to 97.35. The catalyst was disappointing Chinese manufacturing data that came on the back of other soft Australian data earlier in the week. The Chinese data also sent the Japanese stock market into a spin which added to volatility across all markets in the last 24 hours. The AUDJPY did put in a significant bounce which saw it trade up to 99.50, but the risk is now firmly on the downside. Further losses and test back to 97.35 seem likely. Only a sustained move above 99.80 will change the outlook.
The current interbank midrate is:    AUDJPY 98.80

The interbank range this week has been:    AUDJPY 97.35 - 100.80
Tuesday 21st May 3:50PM (NZT)
The last five weeks have seen the AUDJPY chopping back and forth within a 99.50 -102.50 range. Late last week the lower end of the range was tested on the back of AUD weakness. It held firm, and has since recovered to trade around 100.40. Comments from Japanese officials over the last few days suggesting they are comfortable with the level of the yen will likely limit further yen weakness in the very near term. It will therefore take some strength in the AUD to see this pair recover further back toward the middle of the recent range. Any weakness in the AUD will see 99.50 tested, with a break below there opening the way for a move toward 97.00.
  Current Level Support Resistance Last week's range
AUD/YEN 100.52 99.50 102.50 99.67 - 101.47

Friday 17th May 4:25PM (NZT) - Update
There is little new to add from the last update with this pair. The 99.50 - 102.50 range continues to contain what is at best, sideways action. Recent AUD weakness is seeing the lower end of that range tested as I write this, but it’s hard to get excited about the downside. This is because the broader trend has been higher, with the  rallying from 80.00 over the last 6 months. Expect more range trading with the focus on Australian data next week, and the minutes of RBA policy meeting set for release.
The current interbank midrate is:    AUDJPY 99.63

The interbank range this week has been:    AUDJPY 99.60 - 101.96
Tuesday 14th May 3:15PM (NZT)
The last month has seen little overall direction for this pair, and recently both currencies have suffered at the hands of a stronger USD. The resulting swings back and forth within the broad range of 99.50 - 102.50 look set to continue in the near term. Working limit orders at the desired level is a good option for those looking to cover exposure in a choppy directionless market such as this. The longer term trend has been up as the pair has ground it’s way higher from around 80.00 in October last year. That keeps the focus on the top of the recent range, but it will take a sustained break above 102.50 to signal further gains.
  Current Level Support Resistance Last week's range
AUD/YEN 101.38 99.50 102.50 100.52 - 101.96

Friday 3rd May 2:25PM (NZT) - Update
Both the AUD and the JPY have come under pressure recently against most other currencies. This has resulted in decent swings up and down in the pair, but little overall direction for much of the past three weeks. Any dips below 100.00 are finding support, with the topside being capped around 102.50. Expect more of the same heading into next week ,with the topside of the range probably more at risk than moves to the downside.
The current interbank midrate is:    AUDJPY 101.90

The interbank range this week has been:    AUDJPY 100.52 - 102.25
Tuesday 7th May 5:15PM (NZT)
After bouncing off lows around 99.50 late last week, the AUDJPY got a shot in the arm from US payrolls data. The better than expected result saw YEN weakness across the board, and nowhere more so than against the AUD. The cross moved sharply from 100.50 to highs of 102.25. However, the start of this week has seen the AUD come under some more pressure, after poor retail sales figures combined with further weakening in the Chinese services sector. This saw the AUDJPY retreat back below 101.50 ahead of the RBA policy decision. That announcement of a 0.25 point cut by the RBA has seen a spike lower in the cross as the AUD gets sold. Expect it to continue to trade heavily as the market digests the news. Support is around 100.50 ahead of last week’s lows at 99.50
  Current Level Support Resistance Last week's range
AUD/YEN 100.93 99.50 102.50 99.43 - 102.25

Friday 3rd May 2:25PM (NZT) - Update
The AUD has been vulnerable across the board this week, and against the YEN is no exception. The pair was pushed through initial support at 100.00, but bounced nicely off the lower support at 99.50 overnight. This bounce came after the positive data in the US, coupled with the action from the ECB to push equity markets to new highs. A positive day in markets will always see the AUD outperform. Whilst we will see bursts of YEN demand from time to time, overall the YEN will remain under pressure for the most part. Those looking to buy AUD with YEN should look to work orders in the market to target these brief periods of opportunity.
The current interbank midrate is:    AUDJPY 100.59

The interbank range this week has been:    AUDJPY 99.43 - 101.56
Tuesday 30th April 4:15PM (NZT)
Some volatile trade for this currency pair at the end of last week saw the rate fall from just above 102.5 to a low of around 100.5. This was triggered by a bout of JPY strength after no extra easing measures were announced from the BOJ at their Friday 26th policy statement. The move was further spurred on when US GDP disappointed by coming in below expectation. The moves in the Yen are most likely just a correction within the broader trend of a weakening currency, with a backdrop of the massive stimulus by the BOJ. Stronger commodities have helped the AUD and seen the cross recover back to the 101.5 level. The outlook is for an upside bias with more choppy action, and key support toward 100.00 unlikely to be seriously tested.
  Current Level Support Resistance Last week's range
AUD/YEN 101.39 100.50 102.50 100.43 - 102.58

Tuesday 23rd April 6:15PM (NZT)
This pair has seen further volatile price action over the duration of the last week. The Australian dollar saw initial pressure following the weak Chinese GDP number early last week. However, it saw a significant bounce as the weekend approached and the YEN saw renewed pressure across the board. Subsequent to the uneventful G20 meeting the pair has started the week with the AUD again under pressure. This pressure increased further after today’s weak Chinese manufacturing number. Direction from here will come from dual leads of the 1st quarter Australian inflation number tomorrow, and the wider markets appetite for risk. There is potential for the pair to consolidate around the current range.
  Current Level Support Resistance Last week's range
AUD/YEN 101.06 100.20 102.20 100.12 - 102.87

Friday 19th April 4:02PM (NZT) - Update
After opening the week at its highs the AUD came under immediate pressure this week. The weak Chinese economic growth numbers enthused wider market risk aversion and the ensuing scramble to buy YEN pushed the pair to the week’s lows. A partial recovery was to be expected once the markets settled down and the pair has been remarkably contained since then. If sentiment in the global stock markets remains tempered, we could see the pair try and establish a range between 100.00 -102.00 in the short term. Certainly next week will see the Australian inflation numbers on Wednesday, and the BOJ monetary policy announcement on Friday as a focus.
The current interbank midrate is:    AUDJPY 101.60

The interbank range this week has been:    AUDJPY 99.46 - 103.76
Tuesday 16th April 4:42PM (NZT)
This pair has seen a wild ride over the last week. After the pair saw grinding appreciation come in the face of weaker Australian employment numbers, the wider market risk aversion started to increase towards the end of last week. Soft US and Chinese economic numbers seemingly undermined demand in the commodities markets, and coupled with increased uncertainty following the Boston explosions, pushed the pair to the lows earlier today. As noted last week, corrective moves lower for this pair were likely to be sharp, and swift. A partial recovery has played out and further recovery will continue to be driven by the wider markets varying risk appetite, in the absence of any further economic data of note in either economy this week.
  Current Level Support Resistance Last week's range
AUD/YEN 101.10 100.50 102.50 99.48 - 1.0538

Friday 12th April 2:08PM (NZT) - Update
The relentless under performance from the Japanese YEN has continued this week. AUD appreciation has been aided by improving sentiment in the wider market. Whilst the weakening YEN trend is likely to be a feature within markets over the coming months at least, there will likely be opportunities for periodic YEN spikes in demand, even if they are brief. Targeting specific levels may offer opportunity for those looking to sell YEN. Next week will see the Kuroda speeches on Monday offer focus ahead of the RBA monetary policy meeting minutes on Tuesday. The wider market sentiment will also of influence as the US corporate earnings season comes to the fore.
The current interbank midrate is:    AUDJPY 104.93

The interbank range this week has been:    AUDJPY 101.57 - 105.59
Tuesday 9th April 4:51PM (NZT)
The actions from the BOJ predictably drove the price action for this pair last week. A muted start to the week was swept away by the aggressive monetary policy easing that looks to be entrenched by officials over the next two years as they fight deflationary pressure. Whilst there will likely be some pull backs at times, it seems likely that the trend of YEN weakness will continue in the coming months. Certainly the front loading nature of the BOJ program points towards the easy ground being already given up by the YEN, but the joint efforts of the Government and BOJ, should prevent any sustained YEN bounce. Whilst the data will be of limited impact in the short term at least, this Thursday's Australian employment numbers will be closely watched.
  Current Level Support Resistance Last week's range
AUD/YEN 103.60 1.0220 1.0420 97.12 - 103.75

Friday 5th April 4:28PM (NZT) - Update
This week promised to be interesting for this pair, and it has not disappointed. The unchanged RBA monetary policy decision and subsequent positive Australian economic news was not enough to lift the pair from trading a 97.00 - 98.00 range ahead of yesterday's BOJ monetary policy announcement. Since the announcement of the aggressive front loaded easing policy, the AUD has outperformed the YEN buy over 3.5%. Obviously immediate direction for this pair is hard to pick having climbed so far so quickly. Some pulling back as profit taking emerges is likely at some stage, but overall it seems clear that the YEN is likely to continue to be weak. Do not expect further sharp appreciation, but the BOJ and Japanese Government (via potential increased spending) seem determined to end the deflationary cycle. Patience and the use of limit orders is likely to offer reward for this pair in the coming months.
The current interbank midrate is:    AUDJPY 100.99

The interbank range this week has been:    AUDJPY 96.99 - 100.99
Tuesday 4th April 4:00PM (NZT)
The volatility continues for this pair. Last week saw demand pick up for the YEN, and this has seen various waves of "stop loss" investor covering of sold YEN positions. This was most evident as the price slid through the former support level of 98.00, and the selling quickly accelerated. This week sees both respective central banks provide the focus. The RBA announcement later today should be of limited impact to price action. The BOJ announcement on Thursday is a difference proposition. The new leadership’s first meeting has high expectations and it is important that Governor Kuroda sets the right tone early if he is to be successful in stimulating the economy. Other news on Thursday will be the Australian building and retail sales numbers. The loading of limit orders at targeted levels could prove of value if the volatile price action continues.
  Current Level Support Resistance Last week's range
AUD/YEN 97.23 96.00 98.00 97.17 - 99.25

Tuesday 26th March 4:15PM (NZT)
This pair seems to be establishing a new 98.00 - 100.00 range, as it has settled comfortably within this range for the last two weeks. New BOJ head Kuroda, will likely provide the key to direction at next week’s BOJ monetary policy meeting where he will outline a firm course of action to fight deflationary pressure in Japan. With high market expectations, any disappointment will lead quickly to renewed JPY demand as we have seen at times over the last week. Next week’s RBA meeting should offer less in excitement, given that recent events have firmly indicated Australian monetary policy will remain on hold for the time being. Expect the recent range to contain the price action ahead of next week’s monetary policy meetings.
  Current Level Support Resistance Last week's range
AUD/YEN 98.58 98.00 100.00 97.97 - 99.71

Friday 22nd March February 4:15PM (NZT) - Update
The AUD opened at the lows this week as news of the proposed Cyprus bank deposit levy came to light. From the outset the AUD looked to take back some of its lost ground. The AUD positive RBA minutes and Chinese manufacturing numbers enabled waves of AUD demand to drive the pair back up towards the resistance above 99.50. The cause was aided yesterday by the news that PM Gillard has retained the leadership of the Labour party to contend Septembers elections. New BOJ Gov Kuroda's comments were not strong enough to appease a fragile "sold YEN" market, and this volatile testing of the BOJ's attitude will likely become a feature in the coming months. Expect Japanese economic data next week to be of focus, alongside wider market risk appetite driven by the playing out of the Cypriot issues in Europe. The 100.00 resistance level remains the challenge for further AUD appreciation in the near term.
The current interbank midrate is:    AUDJPY 98.93

The interbank range this week has been:    AUDJPY 97.31 - 99.71
Tuesday 19th March 3:58PM (NZT)
This pair saw ongoing volatility last week. Wider market sentiment seems to be the primary driver at the moment. The booming Australian employment number saw a bit of appreciation from the AUD, but this was easily wiped out as sentiment turned a little sour into the end of the week. Certainly the risk aversion that was spawned in Cyprus over the weekend saw the pair open under considerable pressure. In the subsequent sessions the risk aversion has subsided and the AUD has easily taken back lost ground. Today's RBA monetary policy meeting minutes have had a limited effect on the price action and now focus moves to the Japanese trade balance on Thursday. Developments in Cyprus will drive the wider market risk appetite, albeit to a less extent than initially assumed this week.
  Current Level Support Resistance Last week's range
AUD/YEN 99.38 98.00 100.00 97.31 - 99.93

Friday 15th March February 4:15PM (NZT) - Update
The Australian dollar has seen increased demand against the Japanese YEN this week. Strong Australian employment numbers eased the way. Markets expect BOJ leadership nominees to be confirmed today and this should offer some certainly in terms of the future direction for the YEN. Expect the new leadership to follow through with their promised aggressive stimulus programs, and this should continually undermine demand for YEN in the short to medium term.
The current interbank midrate is:    AUDJPY 99.62

The interbank range this week has been:    AUDJPY 97.96 - 99.93
Monday 11th March 4:01PM (NZT)
Last week saw the recent trend of large intra-week moves continue. The AUD saw increased demand as strong Australian retail sales number came to light. This trend continued throughout the week, and momentum gained further following the BOJ monetary policy statement. With the BOJ more than likely to extend their massive stimulatory efforts, expect the weakening YEN bias to continue in the coming months. This week’s focus comes from Tuesday BOJ monetary policy meeting minutes and Thursday Australian employment report. The BOJ minutes will be more pertinent than usual given the dynamic nature of the BOJ at present.
  Current Level Support Resistance Last week's range
AUD/YEN 98.32 96.50 98.50 94.51 - 98.60

Friday 8th March February 4:00PM (NZT) - Update
The volatility for this pair has continued this week. The AUD initially opened under some pressure from the YEN, but this was not to last. As the wider market sentiment improved, and the strong Australian retail sales numbers came to light, the AUD started to see increased demand. This demand has steadily increased throughout the course of the week, and was underpinned by the news of the vote split accompanying the unchanged monetary policy decision from the BOJ. The pair sits close to the 97.50 resistance at current levels. Its certainly seems like further appreciation from the current levels should be harder fought for this pair.
The current interbank midrate is:    AUDJPY 97.49

The interbank range this week has been:    AUDJPY 94.51 - 97.53

Tuesday 5th March 4:53PM (NZT)
Early last week saw the YEN in large demand as the market scrambled to cover "sold YEN" positions as the uncertainly in the wider markets increased. The YEN weakness proved short lived and this pair finds itself back at what seems to be far more comfortable levels in the current environment. There is heightened focus this week with both central banks making monetary policy announcements. Adding to the mix is the important 4th quarter Australian GDP numbers on Wednesday.
  Current Level Support Resistance Last week's range
AUD/YEN 92.23 94.50 96.50 93.15 - 95.56

Friday 1st March February 4:33PM (NZT) - Update
The AUD saw intense pressure from the YEN following the inconclusive Italian election result. The move saw investors scrambling to cover “sold YEN” positions and this added to its magnitude. The support down towards the 93.00 level was enough to see the AUD recover, and this was aided by the Australian capital expenditure numbers yesterday. Direction from current levels remains uncertain, but it would surprise to see much more in terms of YEN appreciation from the current levels.  The respective central bank meetings provide the focus next week, alongside the important 4th quarter Australian GDP number on Wednesday. Current levels could prove to have offered good value buying of YEN in the coming weeks.
The current interbank midrate is:    AUDJPY 94.77

The interbank range this week has been:    AUDJPY 93.15 - 97.65
Tuesday 26th February 3:53PM (NZT)
The volatility for this pair continued throughout the course of the last week. The establishment of the Japanese PM’s choices to lead the BOJ is a positive development in Japan, ratification of these choices will have to be made in due course, but the market can take assurance from the choices made. What has developed over the last 12 hours has been of some surprise. The inconclusive election result in Italy saw a monumental shift back towards YEN demand. This saw the AUD give around 3% to the YEN in a small time frame to set the lows for the week. There has been a material bounce back above 95.00 and consolidation above this levels remains the key for the direction in the near term.
  Current Level Support Resistance Last week's range
AUD/YEN 95.16 95.00 97.00 93.97 - 97.65

Friday 22nd February 4:59PM- Update
The AUD has finally seen a period of material pressure from the Japanese YEN this week. Resistance at 97.00 proved worthy, as the last few sessions have seen the AUD under renewed pressure as the wider market risk aversion increased. The pair has bounced nicely off the support at 95.00, and this came on the back of RBA Governor Stevens comments regarding monetary policy at today's Parliamentary testimony. Look for the month long 95.00 - 97.00 range to continue in the short term. However expect further volatility within the range as increasing market noise emanates from Japan in the run up to the selection of the new BOJ Governor, and ultimately the implementation of the new stimulus program.
The current interbank midrate is:    AUDJPY 78.00

The interbank range this week has been:    AUDJPY 95.12 - 96.97
Tuesday 19th February 3:50PM (NZT)
Last week this pair continued the volatility it has endured in the last few months. The choppy price action was mostly driven through changes in YEN demand as speculation increased about the selection of the next BOJ Governor, and the weekend's G20 meeting approached. With the G20 passing by an opportunity to censor the recent Japanese policy promoting YEN weakness, we can expect this trend to continue in the coming months. For the time being the resistance at 97.00 remains intact. Today's RBA monetary policy meeting minutes were the Australian focus of the week, and a less committal RBA towards further easing of the 3.00% cash rate could see the resistance at 97.00 come under pressure. A sustained break of this level would open up the way for further AUD appreciation, but any further gains would likely be harder fought than the appreciation was from lower levels.
  Current Level Support Resistance Last week's range
AUD/YEN 96.86 95.00 97.00 95.64 - 96.91

Tuesday 12th February 5:50PM (NZT)
This pair was interesting last week. After setting new highs for the recent move, the YEN finally saw a scramble by investors to cover sold positions and this saw the pair move back by almost two per cent in the latter half of the week. However, this YEN weakness has been short lived and the various comments from incoming BOJ Governor contenders again materially weakened the YEN overnight, and the pair looks poised to against push the resistance at 97.00. In the absence of any top tier Australian data this week, expect the focus to come from the preliminary GDP numbers, and BOJ monetary policy announcement on Thursday.
  Current Level Support Resistance Last week's range
AUD/YEN 96.52 95.00 97.00 95.24 - 97.36

Tuesday 5th February 6:10PM (NZT)
The YEN remains under pressure across the board, and against the AUD is no exception for the most part. The last 24hours has seen the AUD give up some of the gains as the global risk appetite gave up some of its recent gains. Today’s RBA monetary policy announcement has seen the AUD under further pressure as the RBA continues to leave the door open to further easing to the cash rate. This week sees the focus almost entirely on the Australian side of the equation, with retail sales, employment and the quarterly RBA Monetary Policy Statement to come. It seems likely the YEN will remain weak in the coming months at least, but corrections seem likely from time to time and provide opportunities for those looking to buy AUD with YEN.
  Current Level Support Resistance Last week's range
AUD/YEN 96.04 95.00 97.00 94.37 - 97.04

Tuesday 29th January 4:55PM (NZT)
This pairing saw its recent volatility continue last week. Surprisingly the knee jerk reaction following the BOJ monetary policy announcement was to buy the YEN. This proved short lived and the market quickly resumed selling YEN on all pairings, as was the case with the AUD. With the AUD also seeing periods of volatility, the AUD appreciation lacked the momentum seen by other currencies. This week sees the focus remain on Japan for the most part with a string of 2nd tier economic data. Next week the RBA make their next monetary policy announcement and this will be closely watched. The market has priced in a chance of further easing from the current 3.00% cash rate. This seems unlikely to me, but should it occur, it would certainly lead to a period of AUD weakness, even against the YEN.
  Current Level Support Resistance Last week's range
AUD/YEN 94.93 94.50 96.50 92.90 - 95.01

Tuesday 22nd January 3:55PM (NZT) The big focus for this week is the BOJ and the release of their much anticipated monetary policy initiatives that have been telegraphed over the last few weeks. These changes will likely provide the direction for the pair in the near term. Any kind of under delivery on expectations will likely lead to a scramble to buy YEN in the very short term, however unlikely this may be. The Australian inflation numbers on Wednesday provide the Australian focus and will be very closely watched after the low number that came from the New Zealand release last week. Any flight into YEN following the BOJ may provide opportunities to buy relatively cheap AUD  with YEN when looked at over the medium term.
  Current Level Support Resistance Last week's range
AUD/YEN 93.95 92.50 94.50 92.62 - 94.93

Tuesday 15th January 4:55PM (NZT)
The AUD has seen rapid appreciation against the under pressure YEN since the beginning of the year. The new Japanese policies focused on debasing the YEN are certainly having their intended consequence. The surprisingly strong Chinese economic data is balancing the patchy domestic Australian data, such as the retail sales numbers last week. Given that the pair is at levels not seen since August 2008, the bias has to remain with further YEN weakening. Near term resistance looks to be in place around the 94.50 level. In terms of data focus for the remainder of the week, the Australian employment numbers on Thursday will the key.
  Current Level Support Resistance Last week's range
AUD/YEN 93.90 92.50 94.50 91.29 - 94.59

Tuesday 18th December 2012 5:10PM (NZT)
The weakening YEN dragged the pair higher last week. Following the confirmation of the LDP party win in the weekends elections the pair opened at levels not seen since March. With the limited impact of the RBA monetary policy meeting minutes today, the focus now shifts to the BOJ on Thursday. Whatever the decision, nothing is going to demonstrably strengthen the YEN at this stage, or any time soon. With apparent central bank and Government support for ultra-easy monetary policy, weakening the YEN is the primary objective in order to strengthen the pressured manufacturing export sector.
  Current Level Support Resistance Last week's range
AUD/YEN 88.57 87.50 89.50 86.28 - 89.09

Tuesday 11th December 2012 3:45PM (NZT)
The AUD saw steady appreciation against the YEN for the majority of last week. However, the momentum has stopped for the time being with the pair unable to consolidate through the resistance at 86.50. This level remains the target in the near term. The next couple of week will prove to be very interesting, with almost the entire focus being provided by the Japanese election and BOJ monetary policy meeting next week. If the current polls prove accurate, the LDP policy to stimulate the economy through undermining the value of the YEN should see a dramatic continuation of the trend for a weaker YEN.
  Current Level Support Resistance Last week's range
AUD/YEN 86.25 84.50 86.50 85.54 86.62

Monday 3rd December 2012 4:52PM (NZT)
This pair saw a period of consolidation at these new elevated levels last week. The AUD upside momentum certainly waned as the pair approached resistance at 86.50. The Australian capital expenditure numbers dented AUD demand and this has continued with today’s weak retail sales number. Direction from the current levels remains unclear. The RBA decision tomorrow, 3rd quarter GDP numbers Wednesday and employment numbers Thursday, provide ample fuel for some increased volatility. Add to this the pending snap election and political posturing in Japan, and the outlook if far from clear. But with the RBA poised to ease the cash rate tomorrow, it is hard to see material AUD appreciation on the week.
  Current Level Support Resistance Last week's range
AUD/YEN 85.77 84.50 86.50 85.21 - 86.43

Tuesday 27th November 2012 4:44 PM (NZT)
The AUD continued to make good sized gains against the YEN last week. The prospect of “ultra” monetary policy stimulation is almost completely undermining demand for the YEN, which is an intended consequence. However, after setting recent highs on Monday, the pair has succumbed to a round of profit taking that has driven the AUD a little lower. This will likely happen from time to time ahead of the 16 Dec election, and beyond. It seems unlikely that the recent YEN weakness will dissipate at any stage in the short term. Next week sees all the focus in Australia with a raft of top level economic data and the prospect of a potential cut to the cash rate at the RBA’s monetary policy decision on Tuesday. For those looking to buy AUD with YEN, be quick with the opportunities that are provided by periodic profit taking move
  Current Level Support Resistance Last week's range
AUD/YEN 85.93 84.50 86.50 84.01 - 86.43

Tuesday 20th November 2012 3:56 PM (NZT)
It has been fairly much all one way traffic for this pair throughout the course of the last week. The YEN pressure has been widespread and was seen even as general market risk aversion increased through the belly of last week. Progress from current levels remains unclear. Certainly further AUD  out performance cannot be ruled out and the substantial resistance at 84.80 remains the first target and it remains close. The BOJ monetary policy meeting should reveal no change now we have an election scheduled for mid December. With the likelihood of an increased mandate for the BOJ following the election, the next few months are going to be very interesting for the Japanese economy.
  Current Level Support Resistance Last week's range
AUD/YEN 84.45 82.80 84.80 82.34 - 84.80

Tuesday 13th November 2012 4:55 PM (NZT)
Last week this pair continued its volatile trend of late. In what was strange price action the YEN returned to its normal correlation with the wider market risk aversion. The AUD saw demand following the RBA decision to hold the cash rate unchanged at 3.25%, but this demand was not sustained. The risk aversion following the US election result saw the YEN demand pressure the AUD down to support at 82.20, although consolidation below this level was not achieved. Yesterday saw the lower than expected Japanese growth numbers and continued rhetoric from the BOJ put a little pressure back on the YEN. With little domestic news left this week in either economy, expect the wider market risk appetite to again provide direction.
  Current Level Support Resistance Last week's range
AUD/YEN 82.56 82.20 84.20 81.95 - 84.16

Entries previous to this have been deleted as there are time sensitive and lose value as time progresses. Please refer to our charts page for price action on a historical basis. The chart page can be seen here : http://www.directfx.co.nz/CurrencyChart.html