AUD/JPY hammered to 76.50 on stronger yen, RBA shrugged-off

The cross in the AUD/JPY snaps the previous rebound and dives deeper in the red as we progress towards the European session, in response escalating risk-off trades.

AUD/JPY looks to test 10-DMA at 76.36

The AUD/JPY pair now sinks -0.93% to 76.61, retreating slightly from daily low struck at 76.53 in the last hour. The AUD/JPY cross faces double whammy, with increasing demand for the safe-haven JPY weighing on one hand, while on the other hand, RBA’s unchanged cash rate decision also kept the Aussie undermined.

Focus now turns towards the fundamentals, with the US factory orders in sight later in the American session. While the Australian retail sales and trade data disappointed markets big time, both coming in worse-than expectations.

AUD/JPY Technical Levels

To the upside, the next resistance is located at 77.24/57 (20-DMA/ daily pivot) and above which it could extend gains to at 77.97 (daily R2).To the downside immediate support might be located 75.51 (Jun 30 low) below that at 75 (round figure).