AUD/JPY: Bulls rescued by solid Aus trade data, RBA eyed

The ongoing recovery in AUD/JPY cross found extra boost from a solid Australian trade report, lifting the rate further beyond 84 handle.

The Aussie reverses a dip to 84.86 lows and regains 84 handle, as investors cheer rebound in Aus exports and a bigger-than expected increase in trade surplus. Moreover, a recovery in the Asian equities eased risk-off trades a bit, which also added to the bounce seen in the cross.

Additionally, dovish remarks from the BOJ Chief Kuroda weighed down on the Japanese currency, lending support to the prices. Attention now turns towards the RBA rate decision due later this session for fresh momentum.

Technical Levels

Higher side: 84.75/79 (10 & 5-DMA), 85.54/61 (Fib R3/ 20-DMA), 85.91/86 (100-DMA/ round number)

Lower side: 83.86 (daily low), 83.50 (psychological levels), 82.63 (200-DMA)