AUD/JPY stuck at 23.6% Fib, ignores RBA minute release
AUD/JPY hardly moved following the release of the RBA minutes and continues to face stiff resistance at 85.00 (23.6% Fib of Nov 9 low and Dec 15 high).
Rising AUD could complicate rebalancing - RBA
The RBA minutes said a rising AUD could complicate/derail the process of economic rebalancing. Policymakers still see slack in the labour market, and uncertainty about employment growth momentum.
AUD/JPY turned a blind eye to the slightly dovish RBA minutes. Moreover, the AUD/USD is having a positive day following a four-day losing streak. This is helping the cross stay upbeat.
The cross was last seen chipping away at the key resistance at 85.00 levels.
AUD/JPY Technical Levels
A break above 85.00 (23.6% of Nov 9 low - Dec 15 high) would expose 85.54 (Dec 5 high), above a major hurdle is seen directly at 85.89 (5-DMA). On the other hand, a breakdown of support at 84.80 (session low) would open the door to 84.33 (Dec 2 low) and then to 84.00 (zero figure).