The AUD/JPY experiences mild gains, currently standing at 97.40.
Monetary policy divergences between the RBA and BoJ benefit the AUD.
Before the RBA meets next week markets will get Retail Sales from December and Q4 CPI.
The daily chart indicators sends mixed signals with, positive RSI a neutral MACD which suggests stagnant momentum.
On Monday's session, the AUD/JPY was seen trading at 97.40, shedding off mild gains after peaking at a high of 97.75. The overall view on the daily chart suggests a neutral to bullish trend, however, the bulls are facing obstacles in gaining further ground. Conversely, the four-hour outlook indicates bears have started to reign in, transforming the broader aspect of the technical landscape. In that sense, markets remain cautious awaiting further data to place their bets on the next Reserve Bank of Australia (RBA) decisions.
In that sense, RBA’s next week’s rate decision will be pivotal. Governor Bullock warned recently that inflation may take a little longer to normalize which made markets bet on a more aggressive stance so the messaging from the bank will be key. This week, Australia will release December Retail Sales figures from December, and on Wednesday, Q4 Consumer Price Index report, which may also set the pace of the AUD price dynamics
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