The AUD/JPY cross is flirting with daily tops of 87.08, where 5-DMA intersects, and looks to extend the bounce in early Europe amid persisting risk-off moods.
AUD/JPY awaits Australian Q4 GDP
The AUD/JPY pair advances +0.17% to 87.04, extending recovery from Thursday’s low reached at 86.64. The cross is seen consolidating the Asian recovery over the last hour, as the USD/JPY pair continues to waver in a tight range below 10-DMA.
At the same time, AUD/USD trades little changed ahead of 0.77 handle, in wake of RBA Governor Lowe’s comments delivered today, citing that he would like AUD level lower, although discarded further rate cuts.
Next on tap for the major remains the US new home sales and revised consumer sentiment data due on the cards later today, which may have an influence on the USD price-action, eventually impacting both the AUD and JPY.
Technical Levels
Higher side: 87.62 (daily R2), 88 (round figure)
Lower side: 86.64 (Feb 22 low), 86.07 (50-DMA)
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