USD/JPY is trading at 134.727, 0.09% down since previous day close. The safe haven Japanese YEN seems to be trading on weaker side on Friday against the strong USD as recent FOMC Minutes showed the chances of higher rate hikes in upcoming Fed meeting. On regional front, the ongoing BoJ Governor election remains crucial for YEN. The Japan’s National Core CPI   grew by 4.2% from 4.0% in the previous month while the result of Prelim Industrial Production & Retail Sales data will remain in focus in next week. As seen in the chart, the pair moved up surpassing the Fib level 23.6 & is trading near MA (20). This indicates the chances of further buying bias or else a reversal may be noticed.

Gold is trading at $1825.31, 0.06% up since previous close. A very range bound trading can be seen in Gold prices since last few sessions against the steady USD post FOMC Minutes which hinted for higher interest rate hike chances in the next Fed meeting. However, the downside in Gold seems to be paused as the negative effect has already been priced in. Earlier, the better than expected PMI figures led selling pressure in precious metals & strengthened the USD. The long term trend in precious metals may remain intact as economic conditions in China seem to be improving. Sideways trading may be expected for the day in Gold since the commodity is hovering near Fibo level 38.2 since few sessions.

AUS200 is trading at 7249.8, 0.06% up since previous day close. The slight upside can be seen in Asian markets in early trade on Friday amid mixed global cues. The recent FOMC Minutes release wherein aggressive rate hikes was hinted in next meetings as expected & has already been priced-in led slight buying momentum in equities. In Australia, the Flash Manufacturing PMI rose to 50.1 from 50.0 in the previous month & the Flash Services PMI increased to 49.2 against the previous figure 48.6. The outcome of country’s CPI data in the next week will define the trend in AUS200. As seen in the chart, the index reversed down from major resistance of previous highs & may take a support of MA (10). If sustained, buying bias may be established further.