Ultima MarketsMarket analysis: The decision of the Bank of Japan may affect the trend of the Australian dollar

Today's Focus on Varieties--The Australian dollar is against the US dollar.

Fundamentally, today the Bank of Japan will release its latest interest rate resolution asforeign exchangeThe most important carry rate variety in the market - AUD/JPY. The potential trend of the yen may affect the behavioral patterns of Australian dollar traders.

The long-term loose monetary policy of the Bank of Japan has led to the Japanese yen becoming a natural liability currency in carry trades, while the interest rate difference between Australia and Japan has led to strong demand for the Australian dollar. If the Bank of Japan adjusts this timeYCCThe potential demand for the Japanese yen will indirectly suppress the demand for the Australian dollar, and against the backdrop of no additional news stimulus from the US dollar in the short term, the Australian dollar may weaken in the short term.

Technically, yesterday's nudity in the daily cycle of AUD/USDKThe structure is very 'unsightly'. HatchedPin barThe trend has fallen below5Daily moving average and early star structure.

(AUD USD daily cycle, sourceUltima Markets MT4）

The oscillation indicators on the daily cycle have once again fallen with a dead fork, and there is a possibility of further downward trend in the market.

AUD to USD4Hourly cycle, sourceUltima Markets MT4）

4On an hourly cycle, the exchange rate is falling below65After the cyclical moving average, the short-term moving average completely penetrates the long-term moving average. Structurally, there is an expected trend in the market. The double serrated downward structure in the Elliott Wave interest rate.

AUD to USD1Hourly cycle chart, sourceUltima Markets MT4）

according toUltima Markets MT4InpivotIndicator, daily central price level0.67415，

0.67415Upward bullish, first goal0.67863Second objective0.68652

0.67415Under bearish, first target0.66832Second objective0.66181

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