Since October began, the AUD/JPY exchange rate has continued to move within a narrow range. The Reserve Bank of Australia (RBA) is the only major central bank that has kept its interest rates steady, so the interest rate gap between Japan and Australia remains wide. The Bank of Japan’s rate hikes have been very gradual, so if the narrow range continues, there is a high chance that carry trade activity will focus on the yen to take advantage of the interest rate difference.
With events like the U.S. elections and the FOMC (Federal Open Market Committee) meetings behind us, market volatility has decreased, making it likely that buying pressure for AUD/JPY will increase soon.
AUD/JPY Forecast Range: 101.30–100.50 yen
Note: The above information does not guarantee profits. Please make trades based on your own judgment.