AUD/JPY fails once again near 78.20 post-BOJ Kuroda

The cross in the AUD/JPY finally broke a brief phase of consolidation to the downside, as comments from the BOJ Governor Kuroda recued the JPY bulls somewhat.

AUD/JPY: Risk-off back in vogue?

The AUD/JPY pair, currently, trades +0.58% higher at 77.88, having posted fresh session lows at 77.80. The cross in the AUD/JPY is seen receding a part of today’s gains as the yen recovers some ground amid BOJ Kuroda’s comments, highlighting the central bank’s commitment to reach 2% price target.

While reports that India confirmed it has carried out surgical strikes on Pakistan launch pads, also spooked markets and boosted demand for the safe-haven yen. Moreover, a retreat in the AUD/USD pair from three-week tops above 0.77 handle, further added to renewed weakness in AUD/JPY.

All eyes now remain on the US economic releases and Fed speaks due later on the day, while the Japanese CPI data due tomorrow will be also closely eyed for further momentum on the cross.

AUD/JPY Technical Levels

To the upside, the next resistance is located at 78.20 (key daily resistance) and above which it could extend gains to at 78.50 (psychological levels).To the downside immediate support might be located 77.68 (100-DMA) below that at 76.28/16 (50 & 5-DMA).