AUD/JPY finds support near 73.60 as China's Hubei reports drop in new coronavirus cases
|- AUD/JPY regains some poise on reports stating a big drop in new coronavirus cases.
- The broader market is still risk-averse with the S&P 500 futures reporting marginal losses.
The bid tone around the anti-risk Japanese weakened, allowing AUD/JPY to bounce up from near 73.60 after China's Hubei government reported a big drop in the new coronavirus cases using the new method introduced earlier this week.
The number of new cases was 4,823 on Thursday, down significantly from Wednesday's 14,840, Hubei province reported a few minutes ago. Note that the number includes clinically diagnosed patients – those with symptoms, but yet to be tested positive.
The selling pressure around the AUD/JPY pair eased after Hubei's report, helping the cross recover from the three-day low of 73.62 to 73.72, the level where it is currently trading.
The pair, however, is having a hard time building on the recovery from session lows as the broader market is still looking risk-averse. At press time, the futures on the S&P 500 are flashing red, while oil prices are flatlined.
The Asian data docket is light, hence the pair is likely to continue tracking the broader market sentiment.
Technical levels
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