AUD/JPY edges lower on Tuesday’s Asian session. The pair trades cautiously ahead of the key Australian data.  As of writing, the AUD/JPY is trading at 80.70, down 0.05% for the day.

Investors ditched the aussie on the back of mixed  economic data and braced themselves for the upcoming Reserve Bank of Australia’s (RBA) interest rate decision. The Job Advertisement declined by 2.8% in September whereas the IHS Markit Australia Composite Purchasing Managers Index (PMI) came at 46.5 in September as compared to 43.3 in August. Audjpy is in an extended consolidative structure below 61.8% fibo retracement level and is making attempts on breaking above 81.50 resistance. Australian Dollar versus Japanese Yen has created daily pivot around exponential moving averages 50 and 200 in the daily time frame while finding strong support near 50% fibo retracement level. 

BULLISH AND BEARISH CONDITIONS/ POSSIBILITIES :

Australian Dollar versus Japanese Yen is stuck in between Senkou Span A and B of the ichimoku cloud in the daily time frame while seemingly finding momentum above Senkou Span A of the ichimoku cloud in four hourly time frame and exponential moving averages 50 and 200. The pair is also in the extended consolidative structure In the four hourly time frame and needs to break above 61.8% fibo retracement level in order to continue hawkish trend. On the flip side, AUDJPY needs to break below 79.80 and 50% fibo level with an impulsive behaviour which would favor bears by entering into the dovish trend. 

AUDJPY

Oct 06 2021