AUD/JPY off-low, re-attempting 85 ahead of RBA

The cross in the AUD/JPY is seen making minor-recovery attempts in the Asian trades, in an effort to reclaim 85 handle amid moderate mixed aversion prevalent in markets.

AUD/JPY awaits RBA

The AUD/JPY pair now drops -0.37% to 84.75, retreating slightly from session lows struck at 84.61 in the last hour. AUD/JPY remains heavily offered amid mixed market sentiment as the Asian equities staged a tepid-bounce after yesterday’s sell-off, while the commodities’ prices are a tad softer.

Hence, the safe-haven yen benefits across the board amid mild risk-aversion, and at the same time the higher-yielding currency AUD suffers amid a lack of demand for risk assets, as focus now shifts towards the RBA cash rate decision, which is expected to be a non-event.

Technical Levels

Higher side: 85 (zero figure), 85.56 (multi-month highs)

Lower side: 84.21 (1h 200-SMA), 83.27 (20-DMA)