AUD/JPY bounces off 84.00 Friday, looking to extend the run further

• AUD/JPY down 2.4% in a week, hoping to tie off losses.
• Aussie Unemployment coming up this week.

AUD/JPY has opened the new week just above the 85.00 major level after another week of accelerating declines that saw the pair bottom at 84.00 before rebounding on Friday.

The Aussie is continuing to lose ground against the Yen, dropping for a third straight week at a quickening pace, shedding 2.4% over the week as dovish comments from the Reserve Bank of Australia (RBA) regarding economic growth within the Australian economy and the future of rate increases from the central bank continue to weigh on the Australian currency.

Australia will be posting their Unemployment Rate and Employment Change figures on Thursday, the 15th at 01:30 GMT. The Aussie could use some positive economic news, and positive numbers in employment are a key contributor to taking Australia closer to higher interest rates. The RBA's reaction to employment data will come with the RBA Governor Philip Lowe's speech following the employment rate release. Governor Lowe will be speaking at 22:30 on Thursday.

AUD/JPY Technicals

The pair saw an uptick in volatility last week, and current prices will be constrained by resistance at 85.35, and 86.60 beyond that; long-term the pair may have priced in a swing point off of support at 84.40, and long position traders can expect a challenge waiting for them at the 200-say SMA, which is currently coinciding with the 50.0 Fibo retracement level at 86.50.