AUD/JPY pings off the 82.00 handle as Yen walks back
- Aussie climbs against the Yen as investor confidence dips a toe in the water.
- AUD headwinds are still mounting, dovish RBA still weighs on the currency.
The Aussie lifted against the Yen in Tuesday's trading, climbing from a low of 81.13 to bounce off of the 82.00 major handle in the US session.
With the US' announcement they are pulling out of the Iranian nuclear deal, markets can finally set their tensions aside regarding the matter, and the Yen walked itself back against the broader market yesterday. The Aussie was able to capitalize and lift itself up after steadily sinking from April's highs, but the AUD is still set to see strong bearish pressure looking forward.
The AUD is data-free until Friday, with Home Loans figures dropping at 01:30 GMT; the headline figure is expected to print a scant 0.1%, but still an improvement over the previous -0.2 contraction. The Japanese Yen is equally data-light this week, though there will be a showing of the Bank of Japan's (BoJ) Summary of Opinions today at 23:50 GMT, where traders will be able to get a sense of who's voting for what within the BoJ's inner circle.
AUD/JPY levels to watch
The Daily candles are still looking quite bearish, and yesterday's correction prices in a near low for the pair at 81.13, while a bullish continuation will quickly run into resistance at the 50.0 Fibo level near 82.50 and the 50-day EMA at 82.80, while a bearish continuation will have to contend with April's low near 80.80 to get the long-term bearish trend restarted.