AUD/JPY reverses Aus jobs-led downward spike

The cross in the AUD/JPY is now making minor-recovery attempts from a sharp drop to daily lows, following the release of somewhat mixed Australian jobs report.

AUD/JPY back to test 5-DMA

Despite a cautious tone prevalent in the markets, the AUD/JPY cross stages a solid comeback from just ahead of 81 handle, with the latest move higher backed by BOJ headlines. BOJ noted that the bank offers to buy unlimited amounts of JGBs 1-3 year maturity, which sent USD/JPY sharply higher above 109 levels.

Earlier on the day, AUD/JPY slumped on the back of a miss in the Australian employment change figures, before recovering some ground to now trade 81.60, almost unchanged on the day.

Technical Levels

Higher side: 82 (zero figure), 82.34 (daily R2)

Lower side: 81.10 (daily S1), 80.45 (20-DMA)

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