Kuroda fails to lift AUD/JPY

Offered tone around Yen gathered pace in Asia on dovish comments from BOJ’s Kuroda, but failed to lift AUD/JPY pair which at the time of writing traded lower on the day around 76.45 levels.

Aussie under pressure

The losses in the cross are mainly due to a 0.28% drop in the AUD/USD pair. On the other hand, Dollar-Yen is up, although not enough to counter the drop in Aussie.

Yen came under pressure after Bank of Japan’s (BOJ) Kuroda, over the weekend, said there is still room for further cut in the interest rates. With no major data due for release today, broader market sentiment ahead of Wednesday’s Jackson Hole event should influence the pair.

AUD/JPY Technical Levels

A break above 76.69 (5-DMA) would open doors for 77.32 (10-DMA). Further gains could run into wall of resistance around 78.09 (61.8% of 81.58-72.44). On the other hand, breakdown of support at 76.29 (Aug 17 low) would open doors for 76.00 level (zero figure). A violation there could yield 75.44 (June 29 low).