AUD to JPY – Japanese Yen to Australian Dollars

When converting Australian dollars to Japanese Yen (AUD to JPY), or JPY 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/JPY currency conversion rates.

AUD to JPY 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.


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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): 1.00%        Bank of Japan (BOJ): -0.10%

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The Australian Dollar (AUD) tracked lower over the week against the Japanese Yen (JPY) reaching 83.90 this morning. The Aussie was undermined by the dovish RBA slant Tuesday after the central bank said they were prepared to be patient with tightening policy measures as they continue to buy government securities at 4B per week until at least February next year. Governor Lowe citing supply chain uncertainty as a massive disruption to future growth forecasting and sustainable high employment. With the cross trading below the 100 day moving average Thursday this could signal further downside moves into the close.
Exchange Rates
The current interbank midrate is: AUDJPY 84.29
The interbank range this week has been: AUDJPY 83.91- 86.05

After 5 weeks of rises by the Australian Dollar (AUD) against the Japanese Yen (JPY) this week has been about consolidation, with the Aussie holding recent support to 85.60. Australian Dollar CPI printed at 0.8% as we expected for the third quarter with the year-on-year number falling to 3.0% from 3.1%. The news spiked the AUD briefly to 86.00 levels before falling back to 85.10. A shift in the RBA monetary policy guidance could be on the cards even with supply chain issues still a problem, the data signals higher domestic prices which could lead to labour shortages and wage pressures. A pickup in inflation should question the dovish view of the RBA and potentially bring forward rate hikes. Japanese Retail Sales beat estimates of -2.2% coming in at 0.6% with shoppers disregarding virus fears. The Bank of Japan retained its -0.1% interest rate with the central bank unlikely to change its loose monetary policy for some time. Inflation expectations have picked up of late, but the bank sees this as transitory lowering their growth forecast as supply constraints continue to weigh on exports and production. We think the cross could retest the February 2018 high of 86.30 in the coming days.

Exchange Rates
The current interbank midrate is: AUDJPY 85.52
The interbank range this week has been: AUDJPY 81.07- 82.08

Risk appetite and USD weakness saw the Japanese Yen (JPY), Australian Dollar (AUD) cross post gains to the 86.30 zone posting a fresh high last seen in January 2018. Not a lot of data has been released over the week to really impact price that much, it’s been mainly about risk appetite with the Aussie bid and a weaker greenback. The Bank of Japan’s (BoJ) governor Kuroda said the economy’s growth forecast was likely to be downgraded with upcoming data likely to show a drop in Japanese exports. The pair eased late Thursday to 85.20 as profit taking on AUD longs kicked in and risk waned. Next week’s Australian CPI q/q is our focus along with the BoJ outlook report.
Exchange Rates
The current interbank midrate is: AUDJPY 85.13
The interbank range this week has been: AUDJPY 84.28- 86.23

The Australian Dollar held last week’s gains into Monday reaching 85.00 against the Japanese Yen (JPY) before easing back to 84.70 early Tuesday. With the Aussie outperforming the Yen to the tune of 2.5 cents this is the largest weekly rise against the struggling Yen since May this year. The long term high at 85.30 looks likely to be broken this week going back to February 2018 levels in the cross. The Bank of Japan’s (BoJ) governor Kuroda said the economy’s growth forecast was likely to be downgraded with upcoming data likely to show a drop in Japanese exports. We have no tier one data to publish this week in the pair.
Exchange Rates
Current Level: 84.88
Resistance: 85.70
Support: 84.00
Last Weeks Range: 81.85-84.91

The Australian Dollar (AUD) was again unstoppable over the week topping out into early Friday at 84.35 against a weakened Japanese Yen (JPY). Dovish comments from Bank of Japan’s Noguchi didn’t help, when he said “a weak Yen is beneficial for the economy as it boosts competitiveness.” The Australian Unemployment Rate rose in the month of September to 4.6% from 4.5% in August but coming in better than the predicted 4.8%. Job numbers were poor, releasing worse than estimates with 138,000 less people employed. Of note the participation rate shrank from 62.2% to 61.5%. With the AUD a touch overbought we could see a correction develop.
Exchange Rates
The current interbank midrate is: AUDJPY 84.35
The interbank range this week has been: AUDJPY 81.85- 84.42

The Australian Dollar (AUD) extended its topside run against the Japanese Yen Monday to 83.40 levels breaking past 5 week resistance at 81.80 to post a late June 2021 high. The JPY has been held back of late by surging crude oil surges with Japan being a net importer of oil and widening yield differentials across the board as many central banks look to tighten policy the Bank of Japan is still talking about easing theirs if necessary. Looking ahead we have Australian employment data on the calendar this week with the unemployment rate predicted to jump to 4.8%from 4.5% in September.
Exchange Rates
Current Level: 83.28
Resistance: 84.20
Support: 83.00
Last Weeks Range: 80.47-81.98

The Australian Dollar (AUD) outperformed all main rival currencies this week rising to 81.60 into Friday sessions against the Japanese Yen (JPY) boosted by risk sentiment. Equities rose over 1.0% during the NY Thursday session pushing the cross to a 4 week high. The RBA left their cash rate unchanged at 0.25% reiterating an interest rate hike won’t be met until 2024. Governor Lowe said it will take some time before wages growth and the rate of inflation rise, giving support to an interest rate increase. Lowe warned of soaring house prices, hinting at a tightening of mortgage lending restrictions was likely to cool the market. Overall the forward guidance was dovish with markets predicting price rises won’t be transitory which could force the RBA to hike rates sooner than expected. Japanese Current Account published tonight. A jump to 82.25, the 200 day moving average could signal further support for the AUD.
Exchange Rates
The current interbank midrate is: AUDJPY 81.70
The interbank range this week has been: AUDJPY 80.49- 81.70

The Australian Dollar (AUD) was the big performer last week climbing back from 79.00 to 80.70 levels against the Japanese Yen (JPY). Improvements in Iron Ore to 110.00 per tonne from 102 together with equities supported the currency well. Monday’s open eyed price extending higher to 81.20 before falling back to 80.50 into early Tuesday as US equity indices closed down on the day. Earlier Japanese Tanken Manufacturing improved the JPY for a short while with the Index showing manufacturers had a modest third quarter with the sector continuing to grow in 2021. RBA rate and policy statement tomorrow – we expect no change to policy. We could see AUD sellers step forward.

Exchange Rates
Current Level:80.75
Resistance: 81.70
Support: 78.80
Last Weeks Range: 79.90-81.31

The commodity linked Australian Dollar (AUD) has held up well over the week just above the 80.00 mark against the Japanese Yen (JPY) in strong risk off flow. Fumio Kishida has been chosen by his party (Liberal Democratic Party to become Japan’s 100th prime minister, beating out rival Taro Kono seen as a frontrunner for the job. He will succeed Yoshihide Suga who has stepped down after only being in the role for 1 year. Suga decided to step aside after plummeting popularity mostly caused by the way he has handled the covid pandemic. Kishida has strong views over China and may aid in the economic separation of China from western economies. Solid Aussie in the form of Building Approvals and Retail Sales have helped. Australian Retail Sales figures for August were down -1.7% but not as much as the predicted -2.5% we were expecting. Spending over the month reflected the impacts of covid lockdowns in NSW and Victoria. A bounce in the iron ore prices also assisted the AUD. Downside risks remain for the Aussie over the coming days.

Exchange Rates
The current interbank midrate is: AUDJPY 80.54
The interbank range this week has been: AUDJPY 80.17- 81.30

Safe haven trades continue to be unwound as we head into the week with a large sell off in the Japanese Yen (JPY) taking price to 80.90 this morning. Bank of Japan’s Kuroda didn’t seem concerned by the recent supply chain shortages in manufacturing when we spoke overnight. Japan’s exports are expected to slow based on increasing cases in South East Asia which is causing delays in the procurement of parts. “This will only be transitory”. Meanwhile covid infections have been improving and emergency measures are expected to be lifted in most parts of Japan by the end of September. Positive equity moves could support the Aussie higher this week.

Exchange Rates
Current Level: 80.85
Resistance: 82.00
Support: 79.00
Last Weeks Range: 78.85-80.95

Focus early in the week was on Chinese company Evergrande with media reporting potential damage to the Chinese economy as the company slid into heavy debt which they are unable to repay. The Australian Dollar (AUD), Japanese Yen (JPY) cross dipped to 78.80 levels as risk markets bought the JPY. The Bank of Japan (BoJ) held steady their ultra stimulatory policy Wednesday maintaining its short term interest rate at -0.10% re-confirming it would buy Japanese Govt Bonds without any limit. This diverging path of policy is separating the BoJ with other central banks who are considering tightening policy. This sent the JPY south and the pair to 80.50 into early Friday. Looking ahead we have Australian Retail Sales Tuesday.

Exchange Rates
The current interbank midrate is: AUDJPY 80.68
The interbank range this week has been: AUDJPY 78.84- 80.77

The Australian Dollar (AUD) was unable to hold 79.70 support last week extending declines into the close and into Tuesday trading to 79.15 against the Japanese Yen (JPY). Massive risk off tone has spooked markets as US equity indices tanked over 2.5% to open the week. China’s stress looks to be the root of the cause as construction Developer giant Evergrande defaults on interest payments, sending the share price in the company down 10%. Also on the minds of investors is the FOMC this week with worries of the outlook of policy and the ability of the Fed to ignore rising inflationary pressures. RBA minutes is later today the only tier one data of note this week. Further declines in the cross look possible.
Exchange Rates
Current Level: 79.34
Resistance: 80.00
Support: 79.00
Last Weeks Range: 79.05-81.14

The Australian Dollar continued last week’s move lower against the Japanese Yen (JPY) descending to 80.00 style levels early Friday. Australian Jobs data was mixed with the unemployment rate dropping to 4.5% from 4.6% surprising markets, the news should have spiked the AUD but a downbeat jobs report revealing a massive 146k contraction in employment with the participation rate likely to blame halting any upside moves. Japanese Trade Balance also failed to spark any real movement when it shrank by 0.27T in August compared to 0.10T marred by supply chain issues and slowing factory production. The Japanese Yen has yet to recover to pre- covid levels, worrying outlook prospects. Further declines in the Aussie could see the pair test 79.00 in the coming days.
Exchange Rates
The current interbank midrate is: AUDJPY 79.99
The interbank range this week has been: AUDJPY 79.75- 81.13

Following the healthy correction from 78.00 style levels the Australian Dollar (AUD) underperformed last week drifting back to 80.70 against the Japanese Yen (JPY) from 82.00 highs led by risk sentiment. The Aussie still looks offered with most of the pressure coming from a turndown in global equities and last week’s dovish RBA. We have also seen some gloom after the call between Biden and Xi failed to deliver on intentions. This week’s focus is on Australian jobs numbers with unemployment predictions expected to jump to 5.0% from 4.6%.Exchange Rates
Current Level: 80.96
Resistance: 81.75
Support: 80.40
Last Weeks Range: 80.67-81.64

The Australian Dollar (AUD) has been one of the weakest currencies this week, underperforming against the Japanese Yen (JPY) falling back to 80.80 levels after starting the week at 81.70. The RBA maintained its cash rate target at 0.10% Tuesday and stuck with its original plan to start pulling back their bond buying from 5B per week to 4B until at least February 2022. This comes as the economy loses considerable momentum during a time the country struggles with the delta outbreak. Unemployment is expected to rise over the coming months as Lowe reaffirmed they would not be hiking interest rates until at least 2024. Kuroda was on the wires saying Bank of Japan easing would continue until well after covid until the goal of 2.0% inflation is reached. Both countries face covid problems, Japan extending the state of emergency in 19 regions through the end of the month. We pick further declines in the AUD could materialise into next week.
Exchange Rates
The current interbank midrate is: AUDJPY 80.90
The interbank range this week has been: AUDJPY 80.77- 81.98

The Australian Dollar (AUD) outperformed the Japanese Yen (JPY) last week to post 82.00 levels, the first time since mid-July. A softer US Dollar under pressure, sent the Aussie skyward for the second week running from the 78.00 mark. Positive data also benefited the currency with the Trade Surplus hitting a record 12B in July with exports up 5% driven by iron ore and coal. This week’s RBA announcement is our focus with attention on whether the RBA will defer its pull back of their bond purchases from 5B per week to 4B amid the coronavirus pandemic and rising daily numbers. Given the flurry of AUD buying of 1late we suspect topside moves could be limited.

Exchange Rates
Current Level: 81.68
Resistance: 82.40
Support: 80.30
Last Weeks Range: 80.14-82.02

US Weakness and Positive risk tone since the 20th of August have assisted the Australian Dollar (AUD) to extend moves past 80.00 against the Japanese Yen (JPY) to 81.35 into Friday trading. ADP employment overnight came in poor, stretching the Aussie another leg to a couple of points shy of the 6 week high at 81.60. We may see a period of consolidation as markets await (NFP) Non-Farm Payroll tomorrow morning. Looking ahead, we have Japanese Current Account printing mid next week of interest.

Exchange Rates
The current interbank midrate is: AUDJPY 81.36
The interbank range this week has been: AUDJPY 79.97- 81.50

Risk conditions continue to underpin the Australian Dollar (AUD) as we head into the week with price extending last week’s gains from the 78.00 area through to 80.15 into early Tuesday. Fed comments by Powell were a touch dovish weakening the US Dollar and sending stocks through the roof to fresh all time highs. Iron ore was up 5.0% to 155.00 a tonne assisting to propel rises in the AUD. Second Q GDP releases tomorrow the key standout this week which could dive into the negatives following covid lockdowns and restrictions. We suggest topside bias for the cross is capped around 80.50 this week.
Exchange Rates
Current Level: 80.17
Resistance: 81.60
Support: 78.00
Last Weeks Range: 79.02-80.37

The Australian Dollar (AUD) turned sharply off the 78.00 level early week, the 2021 low taking back losses against the Japanese Yen (JPY) as risk markets remained buoyant into Thursday. US Equity indices remain near all-time highs as the global outlook nerves receded taking price in the cross back over the magical 80.10 mark. However, stocks have moved back into negative territory Friday as geopolitical woes returned in Afghanistan with an explosion killing US troops. Infections rates in Japan continue to worry officials and competitors at the Paralympic Games with covid now in the Olympic Village. We may see further easing towards the weekly close.
Exchange Rates
The current interbank midrate is: AUDJPY 79.71
The interbank range this week has been: AUDJPY 78.06- 80.09

The Australian Dollar (AUD) depreciated a whopping 2% last week against the Japanese Yen (JPY) reaching a 2021 low of 77.88 before closing around 78.30. Risk conditions and a softer US Dollar have squeezed the AUD to 79.00 levels into Tuesday assisted by US equity indices recovering over 1% during NY trading. Both countries are struggling with surges in delta variant coronavirus infection rates with PMI data due out in both countries highlighting abysmal recent performances. Infection rates in Japan have soured to almost 20,000, 5 times the amount they had when the Olympics started in late July with some saying the Olympics caused infections to rise. If risk conditions remain strong we may see the AUD/JPY rise to 80.00 this week.
Exchange Rates
Current Level: 79.05
Resistance: 80.00
Support: 78.00
Last Weeks Range: 77.90-79.76

The Australian Dollar fell out of bed this week reaching 78.40 into Friday’s sessions against the Japanese Yen (JPY). To be fair it started the week on the back foot around the 81.00 zone and never stood a chance when we look at geopolitical risk factors and coronavirus rampant, and seemingly unstoppable in NSW. Poor iron ore prices and softer Chinese data have also impacted. General “risk off” flow is also a major factor with equity markets sliding over the week. Data in the form of Australian Unemployment was ok with the unemployment rate down to 4.6% from 4.9% but masked by fewer people actively looking for work. Due to restrictions, third quarter GDP is forecast to be terrible hence we maintain the view of a weaker AUD over the following few weeks at least.
Exchange Rates
The current interbank midrate is: AUDJPY 78.49
The interbank range this week has been: AUDJPY 78.24- 80.86

The Australian Dollar (AUD) extended late last week’s declines against the Japanese Yen (JPY) peeling off from a weekly open around 80.80 to reach 79.90 this morning. The Japanese economy has avoided a double dip recession rebounding in the second quarter with prelim GDP publishing at 0.3% q/q. This equates to 1.3% as spending helped boost activity. They are not out of the woods just yet with Japan extending the state of emergency as new cases balloon out, a worrying sign with the Paralympics due to start in a few days. 79.20 is the yearly low i2n the pair, we could be testing this over the week.
Exchange Rates
Current Level: 79.81
Resistance: 81.50
Support: 79.00
Last Weeks Range: 79.80-81.58

Despite many factors supporting the Japanese Yen (JPY) over the week the Australian Dollar (AUD) rose to 81.60 midweek, a small miracle, perhaps buoyed on by mood? Despite restrictions easing in the state of Victoria, coronavirus remains elevated in Melbourne and particularly Sydney, NSW where cases are increasing by the day. NAB Business Confidence released poor likewise the Westpac Consumer Sentiment Index. The cross reversed its 10 days high retreating to 80.90 in Friday sessions as a result coupled with risk off markets. We suspect the AUD may drift back towards the 80.00 level in the coming days.
Exchange Rates
The current interbank midrate is: AUDJPY 81.03
The interbank range this week has been: AUDJPY 80.69- 81.57

Japan Holiday Monday with the observance of Mountain Day made for a quiet Japanese Yen (JPY) market with price drifting off 81.30 to 80.60 into Tuesday sessions. Last week’s rally in the Australian Dollar (AUD) made possible by positive “risk sentiment” after it was down around 80.20 midweek. However post the RBA policy statement and dovish comments by governor Lowe and coronavirus cases blowing out in NSW topside moves for the Aussie look fundamentally limited. Today’s NAB Business Confidence may create more problems for the currency.
Exchange Rates
Current Level: 80.82
Resistance: 81.60
Support: 79.80
Last Weeks Range: 80.60-81.39

With risk improving Monday the Australian Dollar (AUD) improved off the weekly close of 72.70 back to 73.00 against the Japanese Yen (JPY). News from the Chinese Ministry of Commerce suggesting they had downplayed the significance of cancelling the US farm visits took equity markets and risk flows higher. Bank of Japan’s Kuroda speaks today just prior to RBA’s Lowe. Lowe is coming under increased pressure by analysis to cut rates lower than the current 1.0% amid the weakest expansion period in a decade, his comments will be closely monitored. Unfortunately for JPY buyers we still favour price to fall back to August lows around 70.60 with ongoing global uncertainty dominating downside momentum.
Exchange Rates
Current Level: 72.92
Resistance: 74.40
Support: 71.80
Last Weeks Range: 72.62-74.28

The Australian Dollar (AUD) couldn’t continue its run higher from last week’s high of 74.50 dropping lower to 73.20 against the Japanese Yen (JPY). Australian jobs data released up on expectations with an additional 22,000 people added to the workforce but it was the unemployment rate rising to 5.3% from 5.2% which pulled the Aussie lower into Friday. A daily close below 73.00 could signal a further significant pullback to retest the prior low of 69.95 in August. Next week is a quiet week on the calendar so risk sentiment shifts will dominate any price moves.
Exchange Rates
The current interbank midrate is: AUDJPY 73.16
The interbank range this week has been: AUDJPY 73.12- 74.28

The Australian Dollar (AUD) retreated off the close of 74.40 Monday to dive to 73.80 against the Japanese Yen (JPY) before recovering earlier losses to trade back at 74.25 into Tuesday. The AUD looks to regain the edge heading into the crucial bank of Japan cash rate and policy announcement Thursday. First is Aussie employment data which is expected to be print well for August continuing July’s buoyant result. A retest of 74.70 and a break above this area would support further upside for the AUD confirmed by the 100 day moving average.
Exchange Rates
Current Level: 74.16
Support: 72.40
Last Weeks Range: 73.41-74.49

The Australian Dollar (AUD) extended last week’s gains again out performing the Japanese Yen (JPY) to reach 74.45. NAB Business confidence showed a slight deterioration in August with Westpac consumer sentiment also printing down on expectations with pressures continuing on family finances and concerns around near term economic outlook. Both results had no real effect on price with risk sentiment benefiting the AUD. As we suggested earlier a retest of 74.00 was on the cards if risk allowed, the next resistance in the cross is 76.00. Next week’s attention will fall on Australian employment and the Bank of Japan monetary statement.
Exchange Rates
The current interbank midrate is: AUDJPY 74.31
The interbank range this week has been: AUDJPY 73.02- 74.48

Safe haven flow remained low into Tuesday following on from last week’s push higher in risk related products. The Australian Dollar (AUD) rallied to 73.60 against the Japanese Yen (JPY) posting a six week high. Japanese data Monday wasn’t overly supportive for Yen buyers with figures showing worse than predicted results in Bank Lending and Current Account figures. No tier one Aussie data is to publish over the remainder of the week suggesting AUD may creep higher towards a retest of 74.00 if risk sentiment allows.
Exchange Rates
Current Level: 73.69
Resistance: 74.20
Support: 71.00
Last Weeks Range: 71.09-73.75

This week’s Aussie data has driven price in the AUDJPY cross to 72.80 from its open of 71.50. Risk momentum has also benefited the Australian Dollar (AUD) with events in Hong Kong easing with the Hong Kong Anti Extradition bill withdrawn. The RBA left rates unchanged at 1.0% saying the outlook for the global economy remains reasonable but remain to the downside. Quarterly GGP and Trade Balance both printed meeting expectations. Buyers of JPY will welcome the recent halt to the AUD slide off the recent 69.85. The pair will meet resistance around the 73.00 mark.
Exchange Rates
The current interbank midrate is: AUDJPY 72.89
The interbank range this week has been: AUDJPY 71.09- 73.14

This week is dominated by Australian data with six significant releases on the calendar which could shift around price from the current 71.30 level against the Japanese Yen (JPY). 76.00 poses a reasonable resistance point in the cross but if data allows we could see the Aussie push higher back towards this level certainly that’s what I expect. The RBA will announce their cash rate today along with their monetary policy at 4.30 NZT with no change expected from 1.0% for now. Quarterly GDP and Trade Balance follow with Lowe making comment recently that he expects second quarter GDP to print soft around 0.5%. Looming US/China trade worries could offset any good data, a retest of last week’s 69.95 level would not surprise.
Exchange Rates
Current Level: 71.20
Resistance: 72.40
Support: 71.00
Last Weeks Range: 71.12-72.06

With market mood improving Tuesday buyers re-entered the Australian Dollar (AUD) back to 72.00 levels against the Japanese Yen (JPY) where it hovered for most of the week with a short trip back to 71.10. Data out in Australia has been poor with Construction figures followed by CAPEX results deteriorating. Construction in Australia has worsened with a contraction over the second quarter falling by 3.8%. Building Approvals release today and may reflect further building activity declines. Expect the AUDJPY to fall lower with general economic outlook supporting a risk averse tone.
Exchange Rates
The current interbank midrate is: AUDJPY 71.40
The interbank range this week has been: AUDJPY 69.94- 72.06

After falling out of bed on the weekly open and diving below 70.00 for the first time in many years the Australian Dollar (AUD) recovered from 69.95 back to 71.80 Tuesday against the Japanese Yen (JPY). Global fears took a turn late Friday with the US President escalating the trade war further by increasing tariffs on Chinese products after China imposed fresh tariffs on the US. The cross was the biggest mover on the day as stocks also moved sharply higher up 1% as risk flows improved. Top side looks well capped aro2und 72.40 this week.
Exchange Rates
Current Level: 71.72
Resistance: 72.40
Support: 70.65
Last Weeks Range: 71.01-72.41

Better than expected Australian employment numbers gave the Aussie momentum Friday against the Japanese Yen (JPY) closing around the 72.10 area. Tuesday sees price unmoved as markets await today’s RBA minutes. Japan’s Tanken Manufacturing index was the worst since 2013 yesterday staling any JPY momentum. All eyes are focused on today’s RBA minutes to gauge further direction.
Exchange Rates
Current Level: 72.50
Resistance: 72.03
Support: 70.90
Last Weeks Range: 71.02-72.92

The Australian Dollar (AUD) started the week out retesting last week’s multi year low of 70.75 against the Japanese Yen (JPY) but rebounded Wednesday after Australian Wage data surprised to the upside with a 0.6% lift in price inflation boosting the Aussie to 72.90. Equity markets closed flat after losing over 3% earlier in the week and risk averse conditions eased. The Aussie still has a ton of work to do to escape the depths of drifting below pivotal support at 70.00 especially if the risk tone continues into September. Next week’s data also reflects a quiet week so offshore factors will play a part.
Exchange Rates
Current Level: 71.21
Resistance: 72.40
Support: 70.70
Last Weeks Range: 70.75-72.71

Further losses were halted last week for the Australian Dollar (AUD) as price cleared 72.30 mid week and looked like it might push back to 74.00 but this never eventuated. With risk sentiment deteriorating price turned back in favour of the safe haven Japanese Yen (JPY) reversing lower to 71.10 Tuesday following its cue from sharply lower overnight US equity prices. Australian employment data prints later in the week the only highlight on the docket. It’s hard to not see the Aussie break below 70.00 this week.

Current Level: 71.21
Resistance: 72.40
Support: 70.70
Last Weeks Range: 70.75-72.71

The Australian Dollar (AUD) has stemmed further losses against the Japanese Yen (JPY) as the general risk off tone seem to lift. This cleared the way for economic related price moves to 72.60 after the RBA announced no change to the cash rate and back to 70.70 after the RBNZ dropped rates to 1.0% where the Aussie strangely reacted in sympathy. The RBA kept the benchmark cash rate at 1.0% in line with the global outlook remaining questionable and inflation expectations low. An easing bias still remains for the RBA with expectations of further cuts expected based on a “if needed” scenario. The AUDJPY is still trading in no man land with the real possibility we may see price under 70.00 soon if global growth fears continue.
Exchange Rates
The current interbank midrate is: AUDJPY 72.18
The interbank range this week has been: AUDJPY 70.73- 72.68

The Australian Dollar (AUD) has left the building. Gone for all money, entered the abyss with no return in sight. Monday has seen price drift further lower to 71.70 surpassing the June 2016 level support of 72.70 to a multiyear low. Markets turned risk averse again Friday after Trump raised the bar on tariffs to China introducing a further 10% on 300B worth of products starting 1 September. Today we have the RBA announcement with no change expected to the 1.0%. With a bad “risk” smell in the air comments from Lowe will be carefully scrutinised as to easing policy later in the year. For now expect further AUD weakness as investors buy up JPY.
Exchange Rates
Current Level: 72.05
Resistance: 75.00
Support: 71.50
Last Weeks Range: 71.24-75.19

The Australian Dollar (AUD), Japanese Yen (JPY) is trading at 73.00 after the cross extended another leg lower Friday. Overnight risk sentiment also took a hit with Trump announcing he would instigate fresh tariffs of 10% on a further $300B worth of Chinese products from September 1st. This shook markets as investors reached back into the JPY safe haven. Earlier in the week the Bank of Japan committed to keeping rates extremely low for some time saying they would take additional measures if the circumstances warranted it. We expect further downside action to develop, price may struggle to hold above the June 2016 low of 72.40
Exchange Rates
The current interbank midrate is: AUDJPY 73.08
The interbank range this week has been: AUDJPY 72.89- 74.88

We have little movement in the Japanese Yen (JPY), Australian Dollar (AUD) pair this week as markets await the BoJ- Bank of Japan Monetary Policy Statement which prints today. Price hovers around 75.00 while the BoJ should keep rates unchanged at super low levels. Yesterday’s Japanese Retail Sales published at 0.5% up from the 0.2% markets were expecting giving the Yen an early boost with price initially travelling to 74.85. We expect further downside action this week but price should hold the key level of 74.00
Exchange Rates
Current Level:75.15
Resistance: 76.15
Support: 75.00
Last Weeks Range: 74.90-76.06

The Australian Dollar (AUD) has struggled to push higher this week through 76.15 resistance against the Japanese Yen (JPY) with price sticking to its range bound action fourth week running. Early Friday we have seen a bounce higher off heavy support at 75.25 to 75.50 suggesting price could be setting up to push higher. Buyers may need to wait longer for a retest of 77.50 but the next couple of days likely to highlight broader picture direction. Next week’s Bank of Japan (BoJ) rate announcement and monetary statement will be the focus with a decent chunk of analysts expecting the BoJ to announce possible further interest rate cuts in sync with a global U-turn in central bank policy.
Exchange Rates
The current interbank midrate is: AUDJPY 75.44
The interbank range this week has been: AUDJPY 75.24- 76.15

The Australian dollar has tried to push higher against the Japanese Yen this week, but it’s ultimately failed a couple of times at resistance around the 76.15 area. Any break above that level would open the way for a test of 77.50, which is something we do eventually favor, but the repeated topside failures may well encourage sellers to re-enter the market and test downside support, currently seen around 75.00. From Australia this week we only have a speech from RBA Gov Lowe to digest, and the Japanese economic calendar is also looking pretty light. With that in mind, the biggest driver may well end up being swings in broader market risk sentiment.
Exchange Rates
Current Level:75.88
Resistance: 77.50
Support: 75.00
Last Weeks Range: 75.45-76.15

Australian dollar (AUD) gains have driven this pair back towards some key resistance levels against the Japanese Yen, around 76.15 . That area has capped the pair for much of the past two months, but it looks like it will be tested again soon. A sustained move above there would open the way for a broader rally initially targeting 77.50, and then potentially even 79.50. Look for today’s RBA minutes to influence the pair as well as Thursday’s release of Australia employment data.
Exchange Rates
Current Level:75.94
Resistance: 77.50
Support: 75.00
Last Weeks Range: 75.18-76.02

There has been little overall direction for this pair over the past week. Price action has ranged between 75.12 and 75.92 and that looks set to continue as the market waits for something to provide some much needed direction.
Exchange Rates
Current Level:75.80
Resistance: 77.00
Support: 75.00
Last Weeks Range: 75.12-75.92