AUD/JPY bulls defend the downside in Tokyo, drifting from key support

Currently, AUD/JPY is trading at 82.50, down -1.79% on the day, having posted a daily high at 84.04 and low at 82.35.

AUD/JPY is a slight bid on the open as Tokyo traders perhaps wish to stay o the sidelines with much of the job down overnight on Wall Street over the Trump scandal unfolding. The Nikkei 225 is recovering to 19,618 a time of writing from 19,528.

When are Aussie jobs and how might they affect AUD/USD and AUD crosses?

Japan Gross Domestic Product Annualized registered at 2.2% above expectations (1.7%) in 1Q

Wall Street was down heavily in a risk-off environment, with the benchmarks hitting levels to the downside not seen since last September. The yen was picking up the main bulk of the risk-off bid and AUD/JPY was a strong offer from 83.20 to 82.19. The Japanese GDP wasn't a game changer though and markets are now sat awaiting the Aussie jobs data as the next major catalyst in the Aussie crosses. AUD/USD was relatively subdued during the overnight chaos: Forex today: a rough ride and a reality check for dollar bulls in a spooked market

Wall Street sinks as political controversy frightens investors

AUD/JPY levels

Spot is presently trading at 82.48 and recovering from a strong support area below the recent daily ranges since mid-April closing the bullish gap. However, only a break back above the 200 day smoothed sma at 83.19 could neutralise some of this downside we have seen today. The 18th April lows of 81.47 is the 2017 low, supported to some extent by the 50 sma on the weekly time frames at 81.69 currently meeting the summer highs of 2016.