- Aussie spins in place following the RBA’s non-starter rate decision.
- Risk appetite is choosing the overall direction of the AUD for the time being.
The AUD/JPY is trading roughly near 81.30, bouncing between 81.60 and 81.00 as the Aussie spins in place against the Yen.
The Reserve Bank of Australia (RBA) stuck to their usual script following their latest rate decision, delivering the usual bylines about inflation remaining below their targets for some time, and highlighting that household consumption continues to vex the central bank.
The AUD lifted against the Yen towards the tail end of last week’s trading, but the new week has seen the recover sputter out, and the AUD/JPY is continuing to press towards recent swing lows as the Aussie continues to drift towards the bearish side in-step with broader market sentiment.
AUD/JPY levels to watch
Support for the pair is built into a rough range from 2018’s lows from 81.00 to 80.50, and a bullish rejection from support could see the pair lifting back into highs near 84.50, though the current week’s high at 82.10 will be capping immediate buying action.
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