- The AUD/NZD is steeply off near-term highs after a rumored BNoJ FX market intervention.
- The Aussie is down over 3% against the Yen from Friday's peak of 96.94.
- The RBA stood pat on rates this week, Australian Trade Balance data due Thursday.
The AUD/JPY is down 145 pips for Tuesday, rounding the corner into the Wednesday market session after getting knocked lower on the back of an as-yet- unconfirmed FX market intervention by the Bank of Japan (BoJ) to defend the Japanese Yen (JPY).
No official statement from the BoJ has been forthcoming yet, but the AUD/JPY declined over 137 pips inside sixty seconds peak-to-trough during Tuesday's Asia market session, and the pair has traded flatly near the 94.00 handle after recovering over 50% of the initial one-minute move.
Forex Today: Yen wakes up as the Dollar remains robust, RBNZ next
The Reserve Bank of Australia (RBA) held rates steady at 4.1% as markets broadly expected, and new RBA Governor Michele Bullock is in no rush to buck the trend on the RBA's wait-and-see policy playbook.
RBA keeps interest rate steady at 4.10% for fourth straight meeting
RBA appears content sitting it out on the sidelines – TDS
Thursday will bring Australian Trade Balance figures, with the month-over-month number for August expected to improve from 8,039M to 8,725M.
AUD/JPY technical outlook
The AUD?JPY has been knocked well back from Friday's peak, trading below the 100-day Simple Moving Average (SMA) and set for a challenge of the flat-lining 200-day SMA if bullish momentum continues.
Despite the unconfirmed BoJ Yen intervention and a rapid twist to technical indicators, the AUD/JPY remains constrained in familiar territory, with the pair consolidating between 93.00 and 96.00.
AUD/JPY daily chart
AUD/JPY technical levels
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