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AUD/JPY: Post RBA Losses Marginally Extend

AUD

AUD/JPY continues to tick lower as the impact of the RBA's dovish 25bp hike continues to linger. AUD/JPY is now ~1% below its pre-RBA levels and has broken below the ¥97 handle.

  • The pair sits at ¥96.60/65, well with the ¥93/97 range which has persisted since August.
  • Despite the recent downtick, the uptrend is intact bulls target high from 19 June (¥97.675) and ¥98.13 a Fibonacci projection.
  • On the downside the 20-Day EMA (¥95.96) is the first target for bears, a break of the measure opens ¥94 handle and the 200-Day EMA (¥93.69).

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