AUD: AUD/JPY Back Sub All Key EMAs Amid Equity Slump, BoJ/RBA Speeches Tomorrow

AUD/JPY weakness is again in focus in light fresh risk aversion in global equities. The pair last tracked near 97.40/45, up from earlier lows near 97.00. This was also close to intra-session lows from August 19. 

• The slump over the past 24 hours puts the pair back under all key EMAs. The 20-day is around 98.50, while the 200-day is back close to 100. which also marked recent highs and is arguably a more important resistance point. On the downside, Aug 12 lows were around 96.25, while AUg 5 lows came close to 90.00.
• Outside of broader equity/risk trends, relative focus may shift more to Japan in coming sessions. Tomorrow we have a BoJ board member speech, along with July labor cash earnings data, which will be important in terms for the BoJ outlook.
• We do of course have RBA Governor Bullock speaking tomorrow, but the Governor may stick to the recent script in terms of the rates outlook.
• For Australian data, the Q2 GDP update was disappointing from a private sector growth standpoint, but weak growth is an already well established theme. Coming up we have trade figures tomorrow and home lending on Friday. It's not until the 19 of Sep with jobs figures due that domestic data may come back into sharper focus.