Today's trading in the Australian Dollar pair is buying bias towards the price level of 79.40 against the Japanese Yen. The condition of the AUDJPY pair happened on Thursday (4/4) when the trading session was still in the Asian region session. The beginning of the increase in the pair has been seen since Wednesday due to rising risk sentiment towards global assets. If viewed technically, at the current price level is the point where the daily simple moving average passes. The possibility will further limit Aussie gains. For now market participants and investors remain focused on trade talks between the US and China as the main push.
Previously, risk sentiment received very good news about the renewal of US trade negotiations with China. The news automatically provides opportunities for trade profits that the market has been waiting for. Apart from risky events, the strengthening of the Australian Dollar was also caused by the release of optimistic economic data from China.
China itself is one of Australia's main consumers in the field of global trade. While from Japan, the BoJ Governor appeared in Parliament at the Japan National Diet. Kuroda said that the easing of monetary policy is expected in the future. In addition, Kuroda also said that to reach the inflation rate target of 2.0 percent, it still takes some time.
With the statement of the Governor of the Japanese central bank, more traders are avoiding the Yen's safe-haven assets. This makes the AUDJPY pair experience climbing towards the next highest level. Moreover, until now there is still no news of updates from US trade negotiations with China which could provide a boost from the Australian Dollar from below or from above. Any news from the US-China will have an impact on the next Aussie movement.