AUD/JPY keeps range around 79.00 post-RBA

The cross in the AUD/JPY bounces-off a brief dip below 0.79 handle and now remains strongly bid above the last, with the bulls digesting the latest RBA’s unchanged cash rate decision.

AUD/JPY benefits from USD/JPY recovery

The AUD/JPY pair trades +0.79% higher at 79.03, striving hard to take-out 79.10 levels. The AUD bulls take a breather in its upsurge, allowing a brief phase of consolidation in AUD/JPY near six-week highs.

Markets witnessed limited reaction to the RBA’s steady policy decision, with the AUD/USD pair remaining confined in a 20-pips range after the RBA event. While the cross remains supported near multi-week highs amid ongoing recovery seen in the USD/JPY pair.

AUD/JPY Technical Levels

To the upside, the next resistance is located at 79.54 (daily R3) and above which it could extend gains to at 80.65 (200-DMA).To the downside immediate support might be located 78.55 (5-DMA) below that at 78.13/05 (100 & 50-DMA).