Yesterday, Australia’s October–December CPI was 2.4%, lower than the expected 2.5%.At the same time, the trimmed mean CPI was 0.5%, the lowest since mid-2021. Because of this, the Australian dollar (AUD) fell.
As a result, the RBA (Reserve Bank of Australia), which had previously suggested possible rate hikes, is now more likely to cut rates instead.
Since December, the AUD/JPY pair has been moving between 96.00 and 99.00, but now there is a chance it could break below this range.
Expected AUD/JPY Range: 97.20 – 96.20 (50%)
Note: The above is not a guarantee of profit. Make your own decisions when trading.