AUD/JPY extends the rebound to 82.40 post-RBA

The ongoing recovery in AUD/JPY gained extra legs after the Aussie was lifted on the RBA monetary policy decision.

AUD/JPY: 82.50 back on sight

Amid a turnaround in risk sentiment, the JPY bulls took a breather, allowing AUD/JPY to attempt a tepid-bounce from a dip below 82. Risk-appetite appears to have somewhat returned amid a recovery in oil prices, aiding the recovery in the risk-barometer – AUD/JPY.

Moreover, the sentiment around the AUD was lifted after the RBA said in its statement that housing market condition are starting to ease.

However, the pullback in the cross appears to lack follow-through, as the latest current account data continues to weigh on the investors’ sentiment, especially with the Australian Q1 GDP due on the cards tomorrow.  

Technical Levels

Higher side: 82.89/83.04 (20 & 50-DMA), 83.50 (psychological levels), 84.14 (200-DMA)

Lower side: 81.92/91 (key support), 81.71 (multi-week low), 81.43 (Apr 19 low)