AUD/JPY recovery stalls at 79.50, Aus jobs weigh

By FXStreet The AUD/JPY cross maintains the offered tone in the Asian session, now making minor-recovery attempts from the Australian jobs data induced drop.

AUD/JPY re-takes 79.50

The AUD/JPY pair now drops -0.35% to fresh session lows of 79.37, unable to extend the recovery beyond 79.50. The cross in the AUD/JPY pair keeps losses as the sentiment soured after the Australian labour market report disappointed and added to increased bets of RBA rate cuts going forward.

Moreover, the correction seen in the USD/JPY pair from FOMC minutes-led rally, further added to the downbeat sentiment around the AUD/JPY pair. With the Fed minutes and Aus data out of the way, markets look forward to the US unemployment claims and Fed speaks for fresh cues on the prices.

AUD/JPY Technical Levels

To the upside, the next resistance is located at 79.71/ 80 (Daily high/ round number) and above which it could extend gains to at 80.21/37 (20-DMA/ daily R1). To the downside immediate support might be located 79 (round figure) below that at 78.14 (multi-week low).
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Source:: FX Street