At the beginning of this week, the Australian dollar rose against the Japanese yen, starting from around 93 yen to the upper 93 range, because of big progress in US-China trade talks.
After the Tokyo market closed, news came out that the US and China would cut tariffs by 15%. This made investors feel safer, and the Australian dollar went up to 94.91 yen. Since this was near the high level before the April 2 tariffs started, many investors took profits and stopped buying more for now.
The tariff cut will last only 90 days. At the US-China leaders’ meeting this weekend, trade tensions could return. Until then, the price may stay around 95 yen.
AUD/JPY Expected Price Range: 93.80 – 95.00
Note: This is not a guarantee of profit. Make your own decisions when trading.