- AUD/JPY has breached key support at 85.70 and has edged lower to hit session lows at 85.43.
- Renewed bout of risk aversion in the Asian markets sending the Japanese stocks deeper in the red amid strengthening yen.
- BOJ policy decision due in the Asian morning this Thursday, where the Bank of Japan is expected to announce at least some risk-positive policy tweaks.
- On the other hand CPI's from Australia tomorrow are likely to leave pricing for an RBA rate cut next week low.
- China is set to release data on March industrial profits on Wed, while Japanese data on inflation, retail sales and unemployment are due Thurs.
- Downside in the pair intact, with next support at 85.27 (2H cloud top) and resistance at 85.67 (2H 5-SMA).
- Our previous call (http://www.econotimes.com/FxWirePro-AUD-JPY-rejected-at-strong-trendline-resistance-at-8622-good-to-sell-rallies-199739) is progressing. Hold for targets.
The material has been provided by InstaForex Company – www.instaforex.com