Ella 
During Monday trading, the Australian dollar/yen was trading at 97.40, falling back after hitting a high of 97.75, and was at 97.51 at press time. The daily chart shows that the overall trend is neutral to bullish, but bulls are facing resistance on further gains. On the contrary, the 4-hour outlook shows that bears have begun to converge, changing the technical picture. In this sense, the market remains cautious, awaiting further data in order to place bets on the RBA’s next decision.
In this sense, the Reserve Bank of Australia’s interest rate decision next week will be crucial. Reserve Bank of Australia Governor Bullock recently warned that inflation may take longer to return to normal, which has led to market bets that the Reserve Bank of Australia will take a more aggressive stance, so the information released by the Reserve Bank of Australia will be key. This week, Australia will publish retail sales data for December, followed by a fourth-quarter consumer price index report on Wednesday, which may also determine the pace of AUD price dynamics.
